Business Loan from First Financial Bank Given to Broiler, Fryer, And Roaster Chickens Company
First Financial Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Mississippi entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Financial Bank, out of Carthage, Mississippi. The loan was granted and they received $370,000 to help grow their Hickory, Mississippi business.
SBA Loan Borrower
COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
HICKORY, MS 39332
SBA Loan Lender
FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051
This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0251 - Broiler, Fryer, and Roaster Chickens
NAICS Code
112320 - Broilers and Meat Type
Loan Approval Date
12/4/2001
Loan Approval Gross Amount
$370,000
Loan Approval from the SBA
Of the total $370,000 loan amount, the SBA guaranteed $277,500.
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 SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Financial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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 Friends and Family Network
SBA Participating Banks in Carthage, Mississippi
Mississippi SBA 7A Banks