Entrepreneur Works With Tupelo, Mississippi Bank to Get an SBA Loan

Find Tupelo, Mississippi banks that specialize in SBA loans and know how to work with entrepreneurs. Bancorpsouth Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
LUFKIN, TX 75901

SBA Loan Lender

BANCORPSOUTH BANK
ONE MISSISSIPPI PLZ
TUPELO, MS 38804

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

1/2/2007

Loan Approval Gross Amount

$134,700

Loan Approval from the SBA

Of the total $134,700 loan amount, the SBA guaranteed $114,495.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job.

Getting an SBA Loan For Your Business

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bancorpsouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bancorpsouth 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.

Related Links:

Business Credit Evaluation

SBA 7A Banks for Tupelo, Mississippi Loans

Find an SBA Lender in Mississippi