Lakeshore, Mississippi Business Gets SBA-Guaranteed Funding from Hancock Bank
An SBA loan from Hancock Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lakeshore, Mississippi business owner got a $50,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakeshore, Mississippi was able to borrow $50,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $42,500 of this Mississippi small business loan.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
LAKESHORE, MS 39558
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers
Loan Approval Date
9/22/2006
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.
If you need emergency business money, 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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Where to Get an SBA Loan Mississippi