Firm Gets a Mississippi Small Business Loan

Would a Mississippi small business loan help your small business to grow and prosper? If so, you may want to talk with this Mississippi bank, which offers SBA loans to Mississippi entrepreneurs.

Getting a small business loan in Lakeshore, Mississippi was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Hancock Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
LAKESHORE, MS 39558

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/11/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Hancock Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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