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May 19, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Lafayette, Business Loans > Midsouth Bank Lafayette Business Loans > Car Washes Loan | ||||
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Midsouth Bank SBA Loans
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Business Loan from Midsouth Bank Given to Car Washes CompanyMidsouth Bank has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Breaux Bridge, Louisiana was able to borrow $201,000 from Midsouth Bank. The SBA made the loan possible by guaranteeing $150,750 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender MIDSOUTH BANK When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 10/30/2003 Loan Approval Gross Amount $201,000 Loan Approval from the SBA Of the total $201,000 loan amount, the SBA guaranteed $150,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. This SBA loan was for $201,000. How would you spend $201,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Dealing With Venture Capitalists Who Lends Money to Small Businesses in Lafayette, Louisiana SBA Participating Banks in Louisiana
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