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.
333132 - Oil and Gas Field Machinery and Equipment Manufacturing
Loan Approval Date
Loan Approval Gross Amount
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.
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