Financing for Hardware Stores

With these loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $36,200 was given to a Mississippi entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with State Bank & Trust Company, out of Greenwood, Mississippi. The loan was granted and they received $36,200 to help grow their Senatobia, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
SENATOBIA, MS 38668

SBA Loan Lender

STATE BANK & TRUST COMPANY
916 HWY 82 BY-PASS
GREENWOOD, MS 38930

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$36,200

Loan Approval from the SBA

Of the total $36,200 loan amount, the SBA guaranteed $30,770.

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 did not indicate that the small business planned to use the money to increase staffing levels 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank & Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Understanding Dilution

SBA Approved Banks in Greenwood, Mississippi

Mississippi SBA 7A Lenders