SBA Loan from First Financial Bank Helps Broiler, Fryer, And Roaster Chickens Company
First Financial Bank has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.
This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Financial Bank, out of Carthage, Mississippi. The loan was granted and they received $66,000 to help grow their Union, Mississippi business.
SBA Loan Borrower
COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
UNION, MS 39365
SBA Loan Lender
FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0251 - Broiler, Fryer, and Roaster Chickens
NAICS Code
112320 - Broilers and Meat Type
Loan Approval Date
10/21/2005
Loan Approval Gross Amount
$66,000
Loan Approval from the SBA
Of the total $66,000 loan amount, the SBA guaranteed $56,100.
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. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans provide smart, affordable business financing for small businesses looking to expand.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Obtaining Funding - Getting Venture Capital
Who Lends Money to Small Businesses in Carthage, Mississippi
Mississippi SBA Bank Lenders