Loan Census Banking News and Information
February 2, 2023  
 
 
  Business Loan Information  
 

Louisiana Bank SBA Loans

 

 
Loan Census SBA Loan Info

Gulf Coast Bank SBA Loan to Radio And Television Repair Shops Company

Want a Louisiana business loan? Here's one Louisiana business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Abbeville, Louisiana was able to borrow $65,000 from Gulf Coast Bank. The SBA made the loan possible by guaranteeing $48,750 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO AND TELEVISION REPAIR SHOPS
ABBEVILLE, LA 70510

SBA Loan Lender

GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7622 - Radio and Television Repair Shops

Loan Approval Date

2/25/2000

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $65,000 loan. Remember, if it to be, it is up to me!

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:

Role of Business Plan When Raising Money

Best Banks for Small Business in Abbeville, Louisiana

SBA Lenders in Louisiana