Growing Company Gets a Mississippi SBA Loan

Bank loans in Mississippi are are few and far betweeen these days. We take a look at one Mississippi bank loan, provided by a Louisiana bank, that was approved by the SBA.

This company, based in North Biloxi, 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 First Bank And Trust. We've got the inside scoop on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
NORTH BILOXI, MS 39532

SBA Loan Lender

FIRST BANK AND TRUST
909 POYDRAS ST, STE 100
NEW ORLEANS, LA 70112

At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0913 - Shellfish

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

1/26/2001

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

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 small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Bank And Trust and they will explain how you can get an SBA loan for your company.

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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