Lafayette, Louisiana Business Gets SBA-Guaranteed Funding from Gulf Coast Bank
Gulf Coast Bank 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 $175,000 from Gulf Coast Bank. The SBA made the loan possible by guaranteeing $131,250 of this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
LAFAYETTE, LA 70501
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.
SBA Loan Program Type
This loan was issued as a general business loan.
811198 - Automotive Repair and Maintenance
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $175,000 loan amount, the SBA guaranteed $131,250.
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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must 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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $175,000 loan. Remember, things become real when you believe you can achieve them!
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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