Firm Gets a Mississippi SBA Loan

Would a Mississippi small business loan help your small business to grow and prosper? If so, you may want to talk with this Mississippi bank, which offers SBA loans to Mississippi entrepreneurs.

This company, based in Ocean Springs, 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 Merchants & Marine Bank. We've got the inside scoop on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT CARE CENTERS
OCEAN SPRINGS, MS 39564

SBA Loan Lender

MERCHANTS & MARINE BANK
3118 PASCAGOULA ST
PASCAGOULA, MS 39567

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621498 - Outpatient Care Centers

Loan Approval Date

8/4/2004

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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