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November 14, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Gulfport, Business Loans > Hancock Bank Gulfport Business Loans > Commercial And Industrial Machinery And Equipment Rental And Leasing Loan | ||||
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SBA Lenders Mississippi
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Entrepreneur Works With Gulfport, Mississippi Bank to Get an SBA LoanThinking about meeting with a Gulfport, Mississippi bank about a small business loan? Here's one Mississippi business loan, issued by a Gulfport bank, that was approved by the SBA. Applying for an SBA loan with Hancock Bank worked out well for our friends at one local firm in Pascagoula, Mississippi. They got an SBA loan for $100,000. Great job! SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING SBA Loan Lender HANCOCK BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 9/17/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Dealing With Venture Capitalists SBA 7A Lenders in Gulfport, Mississippi
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