Amusement Arcades Bank Loans

With these bank loans for amusement arcades, the SBA guarantees the lender that the loan will be repaid. This amusement arcades loan for $150,000 was given to a Mississippi entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jackson, Mississippi was able to borrow $150,000 from First Commercial Bank. The SBA made the loan possible by guaranteeing $127,500 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
JACKSON, MS 39211

SBA Loan Lender

FIRST COMMERCIAL BANK
1300 MEADOW BROOK RD
JACKSON, MS 39211

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

8/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commercial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Jackson, Mississippi

SBA Participating Banks in Mississippi