Gulfport, Mississippi Bank Lends Money to Child Day Care Services Company in Picayune, Mississippi

Get to know Gulfport, Mississippi banks that specialize in small business loans and know how to work with entrepreneurs. Hancock Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Picayune, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Hancock Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
PICAYUNE, MS 39466

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

1/25/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

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 8 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Picayune MS, you ought to talk with a local Picayune SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Picayune businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Borrowing Money from Friends and Family

SBA Approved Banks in Gulfport, Mississippi

Getting an SBA Loan in Mississippi