Greenville, Mississippi Entrepreneur Gets a Small Business Loan

Would a Mississippi small business loan help your small business to grow and prosper? If so, you may want to talk with this Mississippi bank, which offers SBA loans to Mississippi entrepreneurs.

Getting a small business loan in Greenville, Mississippi was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Guaranty Bank & Trust Co.. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTOMETRISTS
GREENVILLE, MS 38701

SBA Loan Lender

GUARANTY BANK & TRUST CO.
536 WASHINGTON AVE
GREENVILLE, MS 38701

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621320 - Optometrists

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$185,800

Loan Approval from the SBA

Of the total $185,800 loan amount, the SBA guaranteed $139,350.

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

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

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:

Direct Public Offerings

SBA Participating Banks in Greenville, Mississippi

Getting a Business Loan in Mississippi