Biloxi, Mississippi Bank Lends Money to Engineering Services Company in Long Beach, Mississippi

Get to know Biloxi, Mississippi banks that specialize in small business loans and know how to work with entrepreneurs. Community Bank, Coast is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Long Beach, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Community Bank, Coast. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
LONG BEACH, MS 39560

SBA Loan Lender

COMMUNITY BANK, COAST
677 DR MARTIN LUTHER KING JR
BILOXI, MS 39530

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

3/1/2007

Loan Approval Gross Amount

$102,000

Loan Approval from the SBA

Of the total $102,000 loan amount, the SBA guaranteed $86,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the funding would help generate 5 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Credit Cards

Good Banks for Small Business in Biloxi, Mississippi

Getting an SBA Loan in Mississippi