Gulf Coast Bank SBA Loan to Automotive Services Company
Searching for a Louisiana business loan? Here's one Louisiana business loan that was approved by the SBA.
This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Gulf Coast Bank, out of Abbeville, Louisiana. The loan was granted and they received $164,000 to help grow their Lafayette, Louisiana business.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE SERVICES
LAFAYETTE, LA 70506
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
7549 - Automotive Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $164,000 loan amount, the SBA guaranteed $123,000.
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 70 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
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.
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