Community Bank No. Mississippi SBA Loan to Confectionery Merchant Wholesalers Company

Community Bank No. Mississippi is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Mississippi entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Indianola, Mississippi, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Community Bank No. Mississippi, based in Amory, Mississippi.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY MERCHANT WHOLESALERS
INDIANOLA, MS 38751

SBA Loan Lender

COMMUNITY BANK NO. MISSISSIPPI
900 N MAIN
AMORY, MS 38821

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

424450 - Confectionery Merchant Wholesalers

Loan Approval Date

3/27/2007

Loan Approval Gross Amount

$105,300

Loan Approval from the SBA

Of the total $105,300 loan amount, the SBA guaranteed $89,505.

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 47 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 45 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Community Bank No. Mississippi 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:

Bank Credit Lines

Who Lends Money to Small Businesses in Amory, Mississippi

SBA Participating Banks in Mississippi