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April 28, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Iberia, Business Loans > Midsouth Bank New Iberia Business Loans > Arrangement Of Transportation Of Freight And Cargo Loan | ||||
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Louisiana Small Business Loans from Midsouth Bank
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New Orleans, Louisiana Business Gets SBA-Guaranteed Funding from Midsouth BankMidsouth Bank has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them. Getting a small business loan in New Orleans, Louisiana was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Midsouth Bank, operating out of New Iberia, Louisiana. Here are the details on this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO SBA Loan Lender MIDSOUTH BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4731 - Arrangement of Transportation of Freight and Cargo Loan Approval Date 6/30/2000 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for New Iberia, Louisiana Loans
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