SBA Loan from First Choice Bank Helps Gasoline Engine And Engine Parts Manufacturing Company

First Choice Bank has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Choice Bank, out of Geneva, Illinois. The loan was granted and they received $1,750,000 to help grow their Puckett, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE ENGINE AND ENGINE PARTS MANUFACTURING
PUCKETT, MS 39151

SBA Loan Lender

FIRST CHOICE BANK
1900 W STATE ST
GENEVA, IL 60134

This 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

336312 - Gasoline Engine and Engine Parts Manufacturing

Loan Approval Date

8/26/2005

Loan Approval Gross Amount

$1,750,000

Loan Approval from the SBA

Of the total $1,750,000 loan amount, the SBA guaranteed $1,312,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 130 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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SBA 7A Lenders in Geneva, Illinois

Illinois SBA 7A Lenders