SBA Loan from Community Bank, Ellisville Helps Broiler, Fryer, And Roaster Chickens Company

An SBA loan from Community Bank, Ellisville typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Forest, Mississippi business owner got a $569,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Forest, Mississippi was able to borrow $569,000 from Community Bank, Ellisville. The SBA made the loan possible by guaranteeing $426,750 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
FOREST, MS 39074

SBA Loan Lender

COMMUNITY BANK, ELLISVILLE
9TH ST & 16TH AVE
LAUREL, MS 39440

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

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

2/23/2007

Loan Approval Gross Amount

$569,000

Loan Approval from the SBA

Of the total $569,000 loan amount, the SBA guaranteed $426,750.

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 2 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Business Incubators

SBA Banks in Laurel, Mississippi

Mississippi SBA 7A Lenders