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May 16, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Abbeville, Business Loans > Gulf Coast Bank Abbeville Business Loans > Oil And Gas Field Machinery And Equipment Manufacturing Loan | ||||
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Gulf Coast Bank
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Broussard, Louisiana Business Gets SBA-Guaranteed Funding from Gulf Coast BankAn SBA loan from Gulf Coast Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Broussard, Louisiana business owner got a $750,000 loan. This growing company knew how to go about getting a business bank loan. Based in Broussard, Louisiana, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Gulf Coast Bank, based in Abbeville, Louisiana. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender GULF COAST BANK When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program aims to ensure fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 6/6/2003 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 23 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Gulf Coast Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Abbeville, Louisiana Find an SBA Lender in Louisiana
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