Mississippi Bank Loan Issued to Lighting Equipment Company

MississippiBusiness loans are available to Mississippi business owners through the SBA. In this case, a Mississippi bank provides the loan.

This small business, based in Ridgeland, 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 Guaranty Bank & Trust Co.. We've got the inside scoop on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: LIGHTING EQUIPMENT
RIDGELAND, MS 39157

SBA Loan Lender

GUARANTY BANK & TRUST CO.
210 HAYDEN ST
BELZONI, MS 39038

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3648 - Lighting Equipment

NAICS Code

335129 - Lighting Equipment Manufacturing

Loan Approval Date

3/5/2002

Loan Approval Gross Amount

$87,000

Loan Approval from the SBA

Of the total $87,000 loan amount, the SBA guaranteed $73,950.

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. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you need seed money for business? 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.

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