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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Laurel, Business Loans > Regions Bank Laurel Business Loans > Broiler, Fryer, And Roaster Chickens Loan | ||||
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SBA Lender Laurel
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Laurel, Mississippi Lender Lends Money to Broiler, Fryer, And Roaster Chickens CompanyWant to talk with a Laurel, Mississippi bank about an SBA loan? Here's one Mississippi business loan, issued by a Laurel bank, that was approved by the SBA. Applying for an SBA loan with Regions Bank worked out well for our friends at one local firm in Ellisville, Mississippi. They got an SBA loan for $670,000. Nice! SBA Loan Borrower COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS SBA Loan Lender REGIONS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0251 - Broiler, Fryer, and Roaster Chickens NAICS Code 112320 - Broilers and Meat Type Loan Approval Date 5/9/2001 Loan Approval Gross Amount $670,000 Loan Approval from the SBA Of the total $670,000 loan amount, the SBA guaranteed $502,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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. Related Links: Best Laurel, Mississippi Banks for Small Business Browse All Business Loan Sources for Mississippi
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