Grocery and Related Products Merchant Wholesalers Small Business Loans

With these small business loans for grocery and related products merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products merchant wholesalers loan for $150,000 was given to a Louisiana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port Barre, Louisiana was able to borrow $150,000 from Midsouth Bank. The SBA made the loan possible by guaranteeing $127,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
PORT BARRE, LA 70577

SBA Loan Lender

MIDSOUTH BANK
930 S UNION ST
OPELOUSAS, LA 70570

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424490 - Grocery and Related Products Merchant Wholesalers

Loan Approval Date

8/7/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Midsouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Midsouth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Where to Get an SBA Loan in Opelousas, Louisiana

Getting an SBA Loan in Louisiana