Getting an SBA Loan for Nondepository Credit Intermediation

With these business loans for nondepository credit intermediation, the SBA guarantees the lender that the loan will be repaid. This nondepository credit intermediation loan for $101,500 was given to a Mississippi entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Trustmark National Bank, out of Brandon, Mississippi. The loan was granted and they received $101,500 to help grow their Hazlehurst, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
HAZLEHURST, MS 39083

SBA Loan Lender

TRUSTMARK NATIONAL BANK
106 GOVERNMENT ST
BRANDON, MS 39042

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

522298 - Nondepository Credit Intermediation

Loan Approval Date

12/11/2003

Loan Approval Gross Amount

$101,500

Loan Approval from the SBA

Of the total $101,500 loan amount, the SBA guaranteed $86,275.

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. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Hazlehurst or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Art of Bootstrapping

SBA 7A Banks in Brandon, Mississippi

Getting an SBA Loan in Mississippi