SBA Loan from Hancock Bank Helps Home Health Equipment Rental Company

Hancock Bank has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gulfport, Mississippi was able to borrow $105,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $89,250 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH EQUIPMENT RENTAL
GULFPORT, MS 39501

SBA Loan Lender

HANCOCK BANK
808 BEACH BLVD
BILOXI, MS 39530

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532291 - Home Health Equipment Rental

Loan Approval Date

4/6/2005

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 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $105,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 Line of Credit

SBA Participating Banks in Biloxi, Mississippi

Browse All Business Loan Sources for Mississippi