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January 29, 2023  
 
 
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Raising Money in Broussard, Louisiana With SBA Loans

 

 
Loan Census SBA Loan Info

Oil and Gas Field Machinery and Equipment Manufacturing Commercial Loans

With these commercial loans for oil and gas field machinery and equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This oil and gas field machinery and equipment manufacturing loan for $1,000,000 was given to a Louisiana entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broussard, Louisiana was able to borrow $1,000,000 from Gulf Coast Bank. The SBA made the loan possible by guaranteeing $750,000 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING
BROUSSARD, LA 70518

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 business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333132 - Oil and Gas Field Machinery and Equipment Manufacturing

Loan Approval Date

2/10/2006

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 41 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Gulf Coast Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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SBA 7A Lenders in Abbeville, Louisiana

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