Entrepreneur Works With Gulfport, Mississippi Bank to Get an SBA Loan
Thinking about meeting with a Gulfport, Mississippi bank about an SBA loan? Here's one Mississippi business loan, issued by a Gulfport bank, that was approved by the SBA.
Applying for an SBA loan with Hancock Bank worked out well for our friends at one local company in Long Beach, Mississippi. The business was able to get an SBA loan for $83,000. Nice!
SBA Loan Borrower
COMPANY TYPE: ANIMAL SPECIALTY SERVICES
LONG BEACH, MS 39560
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0752 - Animal Specialty Services
NAICS Code
812910 - Pet Care Services
Loan Approval Date
8/23/2001
Loan Approval Gross Amount
$83,000
Loan Approval from the SBA
Of the total $83,000 loan amount, the SBA guaranteed $70,550.
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 only one employee. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $83,000 loan. Remember, where there is a will, there is a way!
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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