Baton Rouge, Louisiana Bank Gives SBA Loan to Retail Stores Company
A Baton Rouge, Louisiana SBA loan can be yours. Learn how a business got a $44,000 business loan from this Louisiana bank.
This loan to an entrepreneur is a good example of an SBA loan. Source Business & Indust Devel Cor made the loan and the SBA guaranteed a portion of the loan. Many other Louisiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: RETAIL STORES
BATON ROUGE, LA 70810
SBA Loan Lender
SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809
This was a Low Documentation SBA loan. The SBA created this program to reduce 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.
SIC Code
5999 - Retail Stores
NAICS Code
453998 - Store Retailers
Loan Approval Date
10/31/2000
Loan Approval Gross Amount
$44,000
Loan Approval from the SBA
Of the total $44,000 loan amount, the SBA guaranteed $35,200.
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 7 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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 Source Business & Indust Devel Cor 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.
Related Links:
Business Line of Credit
SBA Approved Banks in Baton Rouge, Louisiana
Getting a Business Loan in Louisiana