Gulfport, Mississippi Lender Lends Money to Heavy Construction Company

A Gulfport, Mississippi business loan can be yours. Learn how one firm got a $360,000 business loan from this Mississippi bank.

This loan to a local firm is a good example of an SBA loan. Hancock Bank made the loan and the SBA guaranteed a portion of the loan. Many other Mississippi entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
PICAYUNE, MS 39466

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This small business 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.

SIC Code

1629 - Heavy Construction

NAICS Code

213115 - Support Activities for Nonmetallic Minerals

Loan Approval Date

10/29/2003

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Hancock Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Credit Evaluation

Who Lends Money to Small Businesses in Gulfport, Mississippi

Getting an SBA Loan in Mississippi