Bancorpsouth Bank Provides SBA Loan to Buy Crown Trophy Franchise

Borrowing money to purchase a Crown Trophy franchise? Bancorpsouth Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Crown Trophy franchise shouldn't be too tough. In 2002, Bancorpsouth Bank issued an SBA franchise loan to an entrepreneur in Pearl, Mississippi. Because Crown Trophy was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis.

SBA Loan Borrower

CROWN TROPHY
PEARL, MS 39208

SBA Loan Lender

BANCORPSOUTH BANK
525 E CAPITOL ST
JACKSON, MS 39201

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3993 - Signs and Advertising Specialties

NAICS Code

339950 - Sign Manufacturing

Loan Approval Date

3/28/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Crown Trophy franchise. At the time of the loan, the company had 3 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 business in Pearl MS, you ought to talk with a local Pearl SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pearl businesses.

While you may be able to find business people willing to loan money, 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:

Crown Trophy

How Equity Dilution Works

Banks in Jackson, Mississippi

Find an SBA Lender in Mississippi