SBA Loan from Gulf Coast Bank Helps Commercial And Industrial Machinery And Equipment Company
Gulf Coast Bank has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them.
This small firm knew how to go about getting a business bank loan. Based in Broussard, Louisiana, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Gulf Coast Bank, based in Abbeville, Louisiana.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
BROUSSARD, LA 70518
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
811310 - Commercial and Industrial Machinery and Equipment
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
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 19 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 19 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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.
Business Credit Evaluation
SBA 7A Banks for Abbeville, Louisiana Loans
SBA Louisiana Banks