Mississippi Small Business Loan Issued to Poultry Processing Company
MississippiBank loans are available to Mississippi firms through the SBA. In this case, a Mississippi bank provides the loan.
This business, based in Philadelphia, 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 Financial Bank. We've got the inside scoop on this Mississippi small business loan.
SBA Loan Borrower
COMPANY TYPE: POULTRY PROCESSING
PHILADELPHIA, MS 39350
SBA Loan Lender
FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051
This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
311615 - Poultry Processing
Loan Approval Date
10/24/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
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.
We've showcased information on this loan to let you know that businesses like yours 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:
Debt Financing
SBA Banks in Carthage, Mississippi
SBA Mississippi Banks