Tupelo, Mississippi Bank Gives SBA Loan to Child Day Care Services Company

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

Finding a small business loan in Saltillo, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Bancorpsouth 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
SALTILLO, MS 38866

SBA Loan Lender

BANCORPSOUTH BANK
ONE MISSISSIPPI PLZ
TUPELO, MS 38804

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

7/23/2007

Loan Approval Gross Amount

$160,900

Loan Approval from the SBA

Of the total $160,900 loan amount, the SBA guaranteed $80,450.

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 6 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $160,900 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Accountant's Role in Securing Financing

SBA Banks in Tupelo, Mississippi

SBA Lenders in Mississippi