SBA Loan from Citizens Bank Helps Limited-Service Restaurants Company

An SBA loan from Citizens Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hattiesburg, Mississippi business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Hattiesburg, Mississippi, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Citizens Bank, based in Columbia, Mississippi.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HATTIESBURG, MS 39402

SBA Loan Lender

CITIZENS BANK
814 MAIN ST
COLUMBIA, MS 39429

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/26/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 7 employees. The SBA loan application for the borrower indicated that the funding would help generate 7 new jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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