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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Jackson, Business Loans > Trustmark National Bank Jackson Business Loans > Automotive Oil Change And Lubrication Shops Loan | ||||
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SBA Lender Madison
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Madison, Mississippi Business Gets SBA-Guaranteed Funding from Trustmark National BankTrustmark National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Mississippi entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Madison, Mississippi was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Trustmark National Bank, operating out of Jackson, Mississippi. Here are the details on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS SBA Loan Lender TRUSTMARK NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 1/29/2002 Loan Approval Gross Amount $20,300 Loan Approval from the SBA Of the total $20,300 loan amount, the SBA guaranteed $10,150. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustmark National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Jackson, Mississippi
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