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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Tupelo, Business Loans > Bancorpsouth Bank Tupelo Business Loans > Child Day Care Services Loan | ||||
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Banks Doing SBA Loans in Mississippi
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Tupelo, Mississippi Lender Lends Money to Child Day Care Services CompanyWant to talk with a Tupelo, Mississippi bank about a small business loan? Here's one Mississippi business loan, issued by a Tupelo bank, that was approved by the SBA. Applying for an SBA loan with Bancorpsouth Bank worked out well for our friends at one local business in Lumberton, Mississippi. They received an SBA loan for $92,000. Awesome! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BANCORPSOUTH BANK 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 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 11/8/2000 Loan Approval Gross Amount $92,000 Loan Approval from the SBA Of the total $92,000 loan amount, the SBA guaranteed $73,600. 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 7 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Accountant's Role in Securing Financing SBA 7A Banks for Tupelo, Mississippi Loans
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