SBA Loan from Trustmark National Bank Helps Meat And Fish Market Company

An SBA loan from Trustmark National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Madison, Mississippi business owner got a $102,200 loan.

This growing company knew how to go about getting a business bank loan. Based in Madison, Mississippi, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Trustmark National Bank, based in Brandon, Mississippi.

SBA Loan Borrower

COMPANY TYPE: MEAT AND FISH MARKET
MADISON, MS 39157

SBA Loan Lender

TRUSTMARK NATIONAL BANK
106 GOVERNMENT ST
BRANDON, MS 39042

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5421 - Meat and Fish Market

NAICS Code

445220 - Fish and Seafood Markets

Loan Approval Date

6/24/2002

Loan Approval Gross Amount

$102,200

Loan Approval from the SBA

Of the total $102,200 loan amount, the SBA guaranteed $86,870.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Business Line of Credit

Banks in Brandon, Mississippi

Mississippi SBA 7A Lenders