Carthage, Mississippi Lender Lends Money to Broiler, Fryer, And Roaster Chickens Company

Thinking about meeting with a Carthage, Mississippi bank about an SBA loan? Here's one Mississippi business loan, issued by a Carthage bank, that was approved by the SBA.

Applying for an SBA loan with First Financial Bank worked out well for our friends at one local firm in Monticello, Mississippi. They got an SBA loan for $807,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
MONTICELLO, MS 39654

SBA Loan Lender

FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

2/7/2002

Loan Approval Gross Amount

$807,000

Loan Approval from the SBA

Of the total $807,000 loan amount, the SBA guaranteed $605,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Attracting Investors

Small Bank Loans in Carthage, Mississippi

Mississippi SBA 7A Banks