Borrowing Money for Poultry Processing

With these loans for poultry processing, the SBA guarantees the lender that the loan will be repaid. This poultry processing loan for $70,000 was given to a Mississippi entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laurel, Mississippi was able to borrow $70,000 from First Financial Bank. The SBA made the loan possible by guaranteeing $59,500 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: POULTRY SLAUGHTERING AND PROCESSING
LAUREL, MS 39445

SBA Loan Lender

FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2015 - Poultry Slaughtering and Processing

NAICS Code

311615 - Poultry Processing

Loan Approval Date

1/31/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

We can help you find the best banks for small businesses in Laurel or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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