Loan Census Banking News and Information
May 14, 2024  
 
 
  Business Loan Information  
 

West Monroe Bank Loan

 

 
Loan Census SBA Loan Info

West Monroe, Louisiana Lender Lends Money to Beauty Shops Company

Want to talk with a West Monroe, Louisiana bank about an SBA loan? Here's one Louisiana business loan, issued by a West Monroe bank, that was approved by the SBA.

Applying for an SBA loan with Community Trust Bank worked out well for our friends at one local firm in Monroe, Louisiana. They received an SBA loan for $65,000. Great job!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
MONROE, LA 71203

SBA Loan Lender

COMMUNITY TRUST BANK
2211 N 7TH ST
WEST MONROE, LA 71291

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/16/2000

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $52,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Debt Financing

SBA 7A Banks in West Monroe, Louisiana

SBA Participating Banks in Louisiana