Local Business Gets a Mississippi Bank Loan

Looking to get a Mississippi business loan? This Mississippi entrepreneur got a business loan, provided by a Mississippi bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Mendenhall, Mississippi by studying this loan to a local business, made back in 2003. Banks like Peoples Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MENDENHALL, MS 39114

SBA Loan Lender

PEOPLES BANK
160 MAUD AVE
MENDENHALL, MS 39114

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/2/2003

Loan Approval Gross Amount

$113,100

Loan Approval from the SBA

Of the total $113,100 loan amount, the SBA guaranteed $96,135.

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

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

SBA 7A Lenders in Mendenhall, Mississippi

Getting a Business Loan in Mississippi