Mississippi SBA Loan Issued to Car Washes Company

Would a Mississippi bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Mississippi bank, which offers SBA loans to Mississippi entrepreneurs.

Getting a small business loan in Jackson, Mississippi was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Merchants & Farmers Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
JACKSON, MS 39204

SBA Loan Lender

MERCHANTS & FARMERS BANK
966 HWY 51 SOUTH
MADISON, MS 39110

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

9/10/2004

Loan Approval Gross Amount

$356,689

Loan Approval from the SBA

Of the total $356,689 loan amount, the SBA guaranteed $267,517.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $356,689. How would you spend $356,689 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.

Related Links:

Alternative Financing

SBA Banks in Madison, Mississippi

Getting an SBA Loan in Mississippi