Business Loan from Central Progressive Bank Given to No Industry Type Specified Company

An SBA loan from Central Progressive Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Slidell, Louisiana business owner got a $51,100 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Central Progressive Bank, out of Lacombe, Louisiana. The loan was granted and they received $51,100 to help grow their Slidell, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
SLIDELL, LA 70458

SBA Loan Lender

CENTRAL PROGRESSIVE BANK
29092 KRENTEL RD
LACOMBE, LA 70445

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

517212 -

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$51,100

Loan Approval from the SBA

Of the total $51,100 loan amount, the SBA guaranteed $43,435.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels 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.

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 $51,100 loan. Remember, anyone can do it... so why not you?

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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