SBA Loan from Bank Of Kilmichael Helps Supermarkets And Grocery Stores Company

An SBA loan from Bank Of Kilmichael typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Vaiden, Mississippi business owner got a $42,500 loan.

Getting a small business loan in Vaiden, Mississippi was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Kilmichael, operating out of Kilmichael, Mississippi. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
VAIDEN, MS 39176

SBA Loan Lender

BANK OF KILMICHAEL
120 N DEPOT AVE
KILMICHAEL, MS 39747

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

12/1/2006

Loan Approval Gross Amount

$42,500

Loan Approval from the SBA

Of the total $42,500 loan amount, the SBA guaranteed $36,125.

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 5 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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:

Angel Investors

Where to Get an SBA Loan in Kilmichael, Mississippi

SBA Participating Banks in Mississippi