Hattiesburg, Mississippi Entrepreneur Gets an SBA Loan
SBA loans in Mississippi are tough to come by these days. We take a look at one Mississippi SBA loan, provided by a Mississippi bank, that was approved by the SBA.
By giving the right information to First A National Bank Association, this Hattiesburg, Mississippi business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: COMPUTER PROGRAMMING SERVICES
HATTIESBURG, MS 39402
SBA Loan Lender
FIRST A NATIONAL BANK ASSOCIATION
6480 US HWY 98 WEST
HATTIESBURG, MS 39404
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7371 - Computer Programming Services
NAICS Code
541511 - Custom Computer Programming Services
Loan Approval Date
10/23/2001
Loan Approval Gross Amount
$27,000
Loan Approval from the SBA
Of the total $27,000 loan amount, the SBA guaranteed $22,950.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
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.
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