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February 8, 2023  
 
 
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Loan Census SBA Loan Info

Abbeville, Louisiana Bank Gives SBA Loan to General Automotive Repair Company

Get to know Abbeville, Louisiana banks that specialize in SBA loans and know how to work with entrepreneurs. Gulf Coast Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Kaplan, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Gulf Coast Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
KAPLAN, LA 70548

SBA Loan Lender

GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 2 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Abbeville, Louisiana

Louisiana SBA Banks