Lafayette, Louisiana Entrepreneur Gets a Small Business Loan
LouisianaSmall business loans are available to Louisiana small business owners through the SBA. In this case, a Louisiana bank provides the loan.
Getting a small business loan in Lafayette, Louisiana was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Gulf Coast Bank. Here are the details on this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: AIR-CONDITIONING AND WARM AIR HEATING EQUIPMENT
LAFAYETTE, LA 70508
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
333415 - Air-Conditioning and Warm Air Heating Equipment
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $35,000 loan amount, the SBA guaranteed $29,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
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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