Jewelry Stores Loans

With these loans for jewelry stores, the SBA guarantees the lender that the loan will be repaid. This jewelry stores loan for $102,500 was given to a Louisiana entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Buras, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Mississippi River Bank, based in Buras, Louisiana.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
BURAS, LA 70041

SBA Loan Lender

MISSISSIPPI RIVER BANK
HWY 23 & GIORDANO LN
BURAS, LA 70041

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

8/10/2004

Loan Approval Gross Amount

$102,500

Loan Approval from the SBA

Of the total $102,500 loan amount, the SBA guaranteed $87,125.

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 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mississippi River Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

The Friends and Family Network

SBA Banks in Buras, Louisiana

Louisiana SBA Banks