Tupelo, Mississippi Entrepreneur Gets a Small Business Loan

SBA loans in Mississippi are tough to come by these days. We take a look at one Mississippi SBA loan, provided by a Mississippi bank, that was approved by the SBA.

Getting a small business loan in Tupelo, Mississippi was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Renasant Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
TUPELO, MS 38801

SBA Loan Lender

RENASANT BANK
209 TROY ST
TUPELO, MS 38804

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

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 2 employees. This SBA loan request did not indicate that the business planned 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Renasant Bank and they will explain how you can get an SBA loan for your company.

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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