Business Loan from Community Trust Bank Given to No Industry Type Specified Company
Community Trust Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Louisiana entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Monroe, Louisiana was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community Trust Bank, operating out of Monroe, Louisiana. Here are the details on this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
MONROE, LA 71201
SBA Loan Lender
COMMUNITY TRUST BANK
1500 STERLINGTON RD
MONROE, LA 71203
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
518111 -
Loan Approval Date
8/4/2006
Loan Approval Gross Amount
$1,237,000
Loan Approval from the SBA
Of the total $1,237,000 loan amount, the SBA guaranteed $927,750.
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 12 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans provide smart, affordable business financing for small businesses looking to expand.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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Louisiana SBA 7A Lenders