Abbeville, Louisiana Business Gets SBA-Guaranteed Funding from Gulf Coast Bank
An SBA loan from Gulf Coast Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Abbeville, Louisiana business owner got a $900,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Abbeville, Louisiana was able to borrow $900,000 from Gulf Coast Bank. The SBA made the loan possible by guaranteeing $675,000 of this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
ABBEVILLE, LA 70510
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $900,000 loan amount, the SBA guaranteed $675,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 33 employees. The SBA loan documents indicated that the loan would help retain 33 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Gulf Coast Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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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