How to Get a Loan for Liquefied Petroleum Gas Dealers

With these commercial loans for liquefied petroleum gas dealers, the SBA guarantees the lender that the loan will be repaid. This liquefied petroleum gas dealers loan for $82,500 was given to a Mississippi entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Monticello, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Hope Community Cu, based in Jackson, Mississippi.

SBA Loan Borrower

COMPANY TYPE: LIQUEFIED PETROLEUM GAS DEALERS
MONTICELLO, MS 39654

SBA Loan Lender

HOPE COMMUNITY CU
4 OLD RIVER PLACE, STE A
JACKSON, MS 39202

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454312 - Liquefied Petroleum Gas Dealers

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$82,500

Loan Approval from the SBA

Of the total $82,500 loan amount, the SBA guaranteed $70,125.

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

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hope Community Cu are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

How Equity Dilution Works

SBA Participating Banks in Jackson, Mississippi

Mississippi SBA 7A Lenders