Peoples Bank Gives SBA Loan to Broiler, Fryer, And Roaster Chickens Company

MississippiSmall business loans are available to Mississippi small business owners through the SBA. In this case, a Mississippi bank provides the loan.

By giving the right information to Peoples Bank, this Mt. Olive, Mississippi business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
MT. OLIVE, MS 39119

SBA Loan Lender

PEOPLES BANK
611 5TH AVE
MAGEE, MS 39111

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

6/30/2006

Loan Approval Gross Amount

$207,490

Loan Approval from the SBA

Of the total $207,490 loan amount, the SBA guaranteed $155,618.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Mt. Olive MS, you ought to talk with a local Mt. Olive SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mt. Olive businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Peoples Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Peoples Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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