Business Loan from Bancorpsouth Bank Given to Tile And Terrazzo Contractors Company

An SBA loan from Bancorpsouth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ecru, Mississippi business owner got a $34,600 loan.

Getting a small business loan in Ecru, Mississippi was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bancorpsouth Bank, operating out of Tupelo, Mississippi. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: TILE AND TERRAZZO CONTRACTORS
ECRU, MS 38841

SBA Loan Lender

BANCORPSOUTH BANK
ONE MISSISSIPPI PLZ
TUPELO, MS 38804

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238340 - Tile and Terrazzo Contractors

Loan Approval Date

3/29/2006

Loan Approval Gross Amount

$34,600

Loan Approval from the SBA

Of the total $34,600 loan amount, the SBA guaranteed $17,300.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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