Where to Get Capital for Iron and Steel Mills

With these small business loans for iron and steel mills, the SBA guarantees the lender that the loan will be repaid. This iron and steel mills loan for $115,000 was given to a Mississippi entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Long Beach, Mississippi was able to borrow $115,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $97,750 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: STEEL WORKS, BLAST FURNACES AND ROLLING MILLS
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

3312 - Steel Works, Blast Furnaces and Rolling Mills

NAICS Code

331111 - Iron and Steel Mills

Loan Approval Date

1/13/2003

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

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. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Long Beach MS, you ought to talk with a local Long Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Beach businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hancock Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Obtaining Funding - How to Decide How Much to Raise

Small Bank Loans in Gulfport, Mississippi

SBA Lenders in Mississippi