SBA Loan from First Financial Bank Helps Broiler, Fryer, And Roaster Chickens Company
First Financial Bank has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.
This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Financial Bank, out of Carthage, Mississippi. The loan was granted and they received $65,500 to help grow their Mount Olive, Mississippi business.
SBA Loan Borrower
COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
MOUNT OLIVE, MS 39119
SBA Loan Lender
FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.
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
11/20/2003
Loan Approval Gross Amount
$65,500
Loan Approval from the SBA
Of the total $65,500 loan amount, the SBA guaranteed $55,675.
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 did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you 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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $65,500 loan. Remember, feel the fear, and do it anyway.
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 to Raise Money
Who Lends Money to Small Businesses in Carthage, Mississippi
Getting a Business Loan in Mississippi