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December 21, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Janitorial Services Loan | ||||
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Getting a Business Loan in Fayette, Mississippi
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Fayette, Mississippi Entrepreneur Gets a Small Business LoanSBA loans in Mississippi are hard to find these days. We take a look at one Mississippi SBA loan, provided by a New York bank, that was approved by the SBA. This company, based in Fayette, Mississippi, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Loan Center, LLC. We've got the inside scoop on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: JANITORIAL SERVICES SBA Loan Lender BUSINESS LOAN CENTER, LLC This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561720 - Janitorial Services Loan Approval Date 2/15/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Business Loan Center, LLC and they will explain how you can get an SBA loan for your company. 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: Banking Deregulation's Effects on Entrepreneurship SBA Approved Banks in New York, New York
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