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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Baton Rouge, Business Loans > Source Business & Indust Devel Cor Baton Rouge Business Loans > Women's And Children's Clothing Loan | ||||
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Best Banks That Lend to Mississippi Business Owners
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Natchez, Mississippi Entrepreneur Gets a Business LoanMississippiSmall business loans are available to Mississippi small business owners through the SBA. In this case, a Louisiana bank provides the loan. This company, based in Natchez, Mississippi, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Source Business & Indust Devel Cor. We've got the inside scoop on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S AND CHILDREN'S CLOTHING SBA Loan Lender SOURCE BUSINESS & INDUST DEVEL COR This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5137 - Women's and Children's Clothing NAICS Code 422330 - Women's, Children's, and Infants' Clothing and Accessories Wholesalers Loan Approval Date 5/22/2000 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. 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 only one employee. This SBA loan request indicated that the loan would help generate 40 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Baton Rouge, Louisiana Banks for Small Business Getting an SBA Loan in Louisiana
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