Planters Bank and Trust Company
Planters Bank and Trust Company is an active SBA lender in Mississippi, a bank offering SBA-guaranteed small-business loans. Currently rated 4.8 stars across 17 Google reviews.
About Planters Bank and Trust Company
Planters Bank and Trust Company offers comprehensive SBA lending solutions tailored to small businesses seeking financial support for growth and development. With a focus on serving local entrepreneurs, the bank provides various loan programs including the SBA 7(a) loan, which is ideal for working capital, equipment purchases, and business expansion. Their team works closely with clients to understand their unique needs and provides guidance throughout the loan process, ensuring a smooth experience from application to funding. Located in Indianola, Mississippi, they are committed to fostering economic growth within the community and beyond. The bank supports small businesses by offering flexible terms, competitive rates, and personalized service to help entrepreneurs achieve their goals. Whether you're a startup or an established business, they aim to be a trusted partner in your financial journey, leveraging their expertise to help you succeed.
Serves SBA borrowers in 2 states
Planters Bank and Trust Company has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Industries Planters Bank and Trust Company finances
Business types Planters Bank and Trust Company actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about Planters Bank and Trust Company
What is this place and what can I find here?
This is a local bank that offers SBA loan programs and personalized financial services to small businesses. You can find assistance with funding options, guidance through the loan process, and support for business growth and development.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be accommodated depending on availability.
What are the hours of operation?
Typically, the bank operates from Monday to Friday, 8:00 AM to 5:00 PM, but it's best to contact them directly for specific hours or after-hours arrangements.
Is there a fee to use this?
There are no fees to access basic consultation services, but loan application and processing fees may apply depending on the specific financing arrangement.
Who is this open to — anyone, or only residents/members?
This bank primarily serves residents and small business owners within the region, though eligibility for certain programs may vary based on the applicant's business location and qualifications.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of around 640 is generally preferred, but the exact requirement can vary based on the loan type and applicant profile.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Planters Bank and Trust Company typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Planters Bank and Trust Company to confirm current weekend availability before you go.
How do I get there and where do I park?
Planters Bank and Trust Company is located in Mississippi — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for Planters Bank and Trust Company, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Planters Bank and Trust Company itself, which runs its own lending under its own ownership. If you work at Planters Bank and Trust Company, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Planters Bank and Trust Company — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Planters Bank and Trust Company before applying. If you represent Planters Bank and Trust Company, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Planters Bank and Trust Company by phone at (662) 887-3363 or online at planters-bank.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Planters Bank and Trust Company before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, Planters Bank and Trust Company most often finances businesses in construction & contractors and restaurants & food service. This reflects Planters Bank and Trust Company's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Planters Bank and Trust Company which sectors it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Planters Bank and Trust Company participates in SBA Express depends on its specific SBA lending authority. Contact Planters Bank and Trust Company and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Planters Bank and Trust Company can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Planters Bank and Trust Company's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Planters Bank and Trust Company directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Planters Bank and Trust Company what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Planters Bank and Trust Company to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Planters Bank and Trust Company to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Planters Bank and Trust Company weighs this case by case under its own policy, so be upfront about your history and ask Planters Bank and Trust Company how it evaluates prior bankruptcies.
