Growing Company Gets a Mississippi Business Loan

Bank loans in Mississippi are are few and far betweeen these days. We take a look at one Mississippi bank loan, provided by a New Jersey bank, that was approved by the SBA.

You can learn something about getting a small business loan in Jackson, Mississippi by studying this loan to a local company, made back in 2001. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
JACKSON, MS 39211

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This debt financing 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

722110 - Full-Service Restaurants

Loan Approval Date

9/20/2001

Loan Approval Gross Amount

$771,900

Loan Approval from the SBA

Of the total $771,900 loan amount, the SBA guaranteed $578,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

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

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

This SBA loan was for $771,900. How would you spend $771,900 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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