Source Business & Indust Devel Cor Gives SBA Loan to Automotive Transmission Repair Company

LouisianaSmall business loans are available to Louisiana small business owners through the SBA. In this case, a Louisiana bank provides the loan.

Getting a small business loan in Baton Rouge, Louisiana was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Source Business & Indust Devel Cor. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
BATON ROUGE, LA 70815

SBA Loan Lender

SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

9/4/2003

Loan Approval Gross Amount

$476,000

Loan Approval from the SBA

Of the total $476,000 loan amount, the SBA guaranteed $357,000.

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 4 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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