Business Loan from Gulf Coast Bank Given to Beauty Salons Company
An SBA loan from Gulf Coast Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kaplan, Louisiana business owner got a $150,000 loan.
This small firm knew how to go about getting a business bank loan. Based in Kaplan, Louisiana, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Gulf Coast Bank, based in Abbeville, Louisiana.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SALONS
KAPLAN, LA 70548
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
812112 - Beauty Salons
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 23 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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