Homes for the Elderly Bank Loans

Looking for bank loans for homes for the elderly? The SBA may be the answer. This $292,500 homes for the elderly loan was issued by a Mississippi bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lucedale, Mississippi was able to borrow $292,500 from Century Bank. The SBA made the loan possible by guaranteeing $219,375 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
LUCEDALE, MS 39452

SBA Loan Lender

CENTURY BANK
HWY 63 SOUTH
LUCEDALE, MS 39452

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

1/23/2002

Loan Approval Gross Amount

$292,500

Loan Approval from the SBA

Of the total $292,500 loan amount, the SBA guaranteed $219,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Century Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Century Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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