Citizens Bank & Savings Co SBA Loan to Eating Places Company

Citizens Bank & Savings Co 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.

Getting a small business loan in Indianola, Mississippi was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank & Savings Co, operating out of Russellville, Alabama. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
INDIANOLA, MS 38751

SBA Loan Lender

CITIZENS BANK & SAVINGS CO
200 S JACKSON AVE
RUSSELLVILLE, AL 35653

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/20/2001

Loan Approval Gross Amount

$587,500

Loan Approval from the SBA

Of the total $587,500 loan amount, the SBA guaranteed $440,625.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 23 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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