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March 28, 2024  
 
 
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SBA Lender Downsville Louisiana

 

 
Loan Census SBA Loan Info

First Financial Bank Gives Small Business Loan to Broilers And Meat Type Company

Small business loans in Louisiana are are few and far betweeen these days. We take a look at one Louisiana small business loan, provided by an Arkansas bank, that was approved by the SBA.

This business, based in Downsville, Louisiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Financial Bank. We've got the inside scoop on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
DOWNSVILLE, LA 71234

SBA Loan Lender

FIRST FINANCIAL BANK
214 N WASHINGTON ST
EL DORADO, AR 71730

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business 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.

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

8/26/2003

Loan Approval Gross Amount

$632,000

Loan Approval from the SBA

Of the total $632,000 loan amount, the SBA guaranteed $474,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $632,000 loan. Remember, feel the fear, and do it anyway.

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.

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