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May 17, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Lafayette, Business Loans > Iberiabank Lafayette Business Loans > Advertising Loan | ||||
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Iberiabank SBA Loan
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Iberiabank SBA Loan to Advertising CompanyIberiabank has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lafayette, Louisiana was able to borrow $100,000 from Iberiabank. The SBA made the loan possible by guaranteeing $80,000 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: ADVERTISING SBA Loan Lender IBERIABANK This lender issued this particular loan for a small business 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. SIC Code 7319 - Advertising NAICS Code 541890 - Services Related to Advertising Loan Approval Date 5/2/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in Lafayette, Louisiana
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