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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Brandon, Business Loans > Community Bank Of Mississippi Brandon Business Loans > Plumbing And Hydronic Heating Supplies Loan | ||||
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Jackson SBA Loans
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Jackson, Mississippi Entrepreneur Gets an SBA LoanLooking to get a Mississippi SBA loan? This Mississippi entrepreneur got an SBA loan, provided by a Mississippi bank that works with the SBA to help small business owners. By giving the right information to Community Bank Of Mississippi, this Jackson, Mississippi business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: PLUMBING AND HYDRONIC HEATING SUPPLIES SBA Loan Lender COMMUNITY BANK OF MISSISSIPPI This lender issued this bank loan under the SBA's 7A loan, 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. SIC Code 5074 - Plumbing and Hydronic Heating Supplies NAICS Code 421720 - Plumbing and Heating Equipment and Supplies Wholesalers Loan Approval Date 2/22/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 11 employees. The loan application did not indicate that the business planned to use the loan proceeds to add 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank Of Mississippi and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding From a Venture Capitalist Best Banks for Small Business in Brandon, Mississippi Where to Get an SBA Loan Mississippi
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