Getting an SBA Loan for Broilers and Meat Type

With these SBA loans for broilers and meat type, the SBA guarantees the lender that the loan will be repaid. This broilers and meat type loan for $865,000 was given to a Mississippi entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Forest, Mississippi was able to borrow $865,000 from Peoples Bank. The SBA made the loan possible by guaranteeing $648,750 of this Mississippi small business loan.

SBA Loan Borrower

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

SBA Loan Lender

PEOPLES BANK
611 5TH AVE
MAGEE, MS 39111

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

9/24/2002

Loan Approval Gross Amount

$865,000

Loan Approval from the SBA

Of the total $865,000 loan amount, the SBA guaranteed $648,750.

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 loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Forest MS, you ought to talk with a local Forest SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Forest businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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