Loan Census Banking News and Information
February 1, 2023  
 
 
  Business Loan Information  
 

Grand Coteau, Louisiana Bank Loan

 

 
Loan Census SBA Loan Info

Convenience Stores Commercial Loans

With these commercial loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $465,000 was given to a Louisiana entrepreneur in 2006.

Getting a small business loan in Grand Coteau, Louisiana was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Gulf Coast Bank, operating out of Abbeville, Louisiana. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
GRAND COTEAU, LA 70541

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 debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

3/1/2006

Loan Approval Gross Amount

$465,000

Loan Approval from the SBA

Of the total $465,000 loan amount, the SBA guaranteed $348,750.

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 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gulf Coast Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gulf Coast Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Best Banks in Abbeville, Louisiana

Getting a Business Loan in Louisiana