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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Jackson, Business Loans > Trustmark National Bank Jackson Business Loans > Motor Vehicle Towing Loan | ||||
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Trustmark National Bank
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Business Loan from Trustmark National Bank Given to Motor Vehicle Towing CompanyAn SBA loan from Trustmark National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pearl, Mississippi business owner got a $69,800 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pearl, Mississippi was able to borrow $69,800 from Trustmark National Bank. The SBA made the loan possible by guaranteeing $34,900 of this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender TRUSTMARK NATIONAL 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 488410 - Motor Vehicle Towing Loan Approval Date 12/16/2004 Loan Approval Gross Amount $69,800 Loan Approval from the SBA Of the total $69,800 loan amount, the SBA guaranteed $34,900. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to borrow money from friends and family, 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: Best Banks for Small Business in Jackson, Mississippi
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