Get an SBA Loan for Floor Laying and Floor Contractors

With these loans for floor laying and floor contractors, the SBA guarantees the lender that the loan will be repaid. This floor laying and floor contractors loan for $85,000 was given to a Mississippi entrepreneur in 2002.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Southbank, F.S.B., out of Oxford, Mississippi. The loan was granted and they received $85,000 to help grow their Tupelo, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: FLOOR LAYING AND FLOOR CONTRACTORS
TUPELO, MS 38801

SBA Loan Lender

SOUTHBANK, F.S.B.
106 COURTHOUSE SQ
OXFORD, MS 38655

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235520 - Floor Laying and Floor Contractors

Loan Approval Date

4/9/2002

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 5 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Southbank, F.S.B. 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:

Getting a Small Business Loan

Small Bank Loans in Oxford, Mississippi

Mississippi SBA Banks