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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 > Full-Service Restaurants Loan | ||||
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Best Banks for Small Business Owners in Mississippi
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Firm Gets a Mississippi Small Business LoanMississippiSmall business loans are available to Mississippi small business owners through the SBA. In this case, a Mississippi bank provides the loan. Getting a small business loan in Madison, Mississippi was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Trustmark National Bank. Here are the details on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender TRUSTMARK NATIONAL BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722110 - Full-Service Restaurants Loan Approval Date 9/28/2005 Loan Approval Gross Amount $305,000 Loan Approval from the SBA Of the total $305,000 loan amount, the SBA guaranteed $152,500. 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 2 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs and retain 15 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Trustmark National Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - Getting Venture Capital SBA Participating Banks in Jackson, Mississippi
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