Greenwood, Mississippi Bank Gives SBA Loan to Broiler, Fryer, And Roaster Chickens Company

Get small business loans from a Greenwood, Mississippi bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

State Bank & Trust Company is a Greenwood, Mississippi small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Mississippi company.

SBA Loan Borrower

COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
MACON, MS 39341

SBA Loan Lender

STATE BANK & TRUST COMPANY
916 HWY 82 BY-PASS
GREENWOOD, MS 38930

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0251 - Broiler, Fryer, and Roaster Chickens

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

6/11/2002

Loan Approval Gross Amount

$432,000

Loan Approval from the SBA

Of the total $432,000 loan amount, the SBA guaranteed $324,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Equity Financing

SBA 7A Banks in Greenwood, Mississippi

Mississippi SBA 7A Lenders