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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Tupelo, Business Loans > Bancorpsouth Bank Tupelo Business Loans > Family Clothing Stores Loan | ||||
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Pontotoc, Mississippi Bank Loan
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Mississippi Small Business Loan Issued to Family Clothing Stores CompanyMississippiBusiness loans are available to Mississippi business owners through the SBA. In this case, a Mississippi bank provides the loan. You can learn something about getting a small business loan in Pontotoc, Mississippi by studying this loan to a local business, made back in 2007. Banks like Bancorpsouth Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender BANCORPSOUTH BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448140 - Family Clothing Stores Loan Approval Date 10/29/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and 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. 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 Tupelo, Mississippi Banks for Small Business SBA Participating Banks in Mississippi
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