Borrowing Money for Commercial and Institutional Building Construction
With these small business loans for commercial and institutional building construction, the SBA guarantees the lender that the loan will be repaid. This commercial and institutional building construction loan for $350,000 was given to a Mississippi entrepreneur in 2007.
This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Trustmark National Bank, out of Jackson, Mississippi. The loan was granted and they received $350,000 to help grow their Hattiesburg, Mississippi business.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
HATTIESBURG, MS 39404
SBA Loan Lender
TRUSTMARK NATIONAL BANK
248 E CAPITOL ST
JACKSON, MS 39201
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
236220 - Commercial and Institutional Building Construction
Loan Approval Date
4/10/2007
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $175,000.
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 52 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 52 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Advice on Getting a Small Business Loan
Good Banks for Small Business in Jackson, Mississippi
SBA Lenders in Mississippi