Entrepreneur Works With Greenwood, Mississippi Bank to Get an SBA Loan

Want to talk with a Greenwood, Mississippi bank about a business loan? Here's one Mississippi business loan, issued by a Greenwood bank, that was approved by the SBA.

Applying for an SBA loan with State Bank & Trust Company worked out well for our friends at one local business in Grenada, Mississippi. They received an SBA loan for $105,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
GRENADA, MS 38930

SBA Loan Lender

STATE BANK & TRUST COMPANY
916 HWY 82 BY-PASS
GREENWOOD, MS 38930

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

4/15/2004

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from State Bank & Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Equity Financing

SBA Approved Banks in Greenwood, Mississippi

SBA Participating Banks in Mississippi