Borrowing Money for Manufactured Home Dealers

With these loans for manufactured home dealers, the SBA guarantees the lender that the loan will be repaid. This manufactured home dealers loan for $150,000 was given to a Louisiana entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Denham Springs, Louisiana was able to borrow $150,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $112,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MOBILE HOME DEALERS
DENHAM SPRINGS, LA 70723

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5271 - Mobile Home Dealers

NAICS Code

453930 - Manufactured Home Dealers

Loan Approval Date

6/23/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hancock Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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