Where to Get Capital for Farm Supplies Wholesalers

With these SBA loans for farm supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm supplies wholesalers loan for $210,000 was given to a Mississippi entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Vancleave, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Hancock Bank, based in Gulfport, Mississippi.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES WHOLESALERS
VANCLEAVE, MS 39565

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

12/24/2002

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hancock Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Startup Funding Tip

SBA 7A Banks in Gulfport, Mississippi

Mississippi SBA 7A Lenders