Growing Company Gets a Mississippi Bank Loan

Bank loans in Mississippi are hard to find these days. We take a look at one Mississippi bank loan, provided by a Mississippi bank, that was approved by the SBA.

Getting a small business loan in Harrisville, Mississippi was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Peoples Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Harrisville, MS 39082

SBA Loan Lender

PEOPLES BANK
160 MAUD AVE
MENDENHALL, MS 39114

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

10/19/2005

Loan Approval Gross Amount

$263,320

Loan Approval from the SBA

Of the total $263,320 loan amount, the SBA guaranteed $131,660.

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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs.

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.

This SBA loan was for $263,320. How would you spend $263,320 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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