Firm Gets a Louisiana Bank Loan
LouisianaSmall business loans are available to Louisiana small business owners through the SBA. In this case, a Louisiana bank provides the loan.
This business, based in Lafayette, Louisiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Gulf Coast Bank. We've got the inside scoop on this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
Lafayette, LA 70503
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $236,000 loan amount, the SBA guaranteed $177,000.
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. The loan application indicated that the loan would help generate 6 new jobs.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to find business people willing to loan money, 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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