Norco, LA Entrepreneur Gets SBA Loan to Buy Mochaccino's Gourmet Coffee & Tea Franchise

Need a loan to purchase a Mochaccino's Gourmet Coffee & Tea franchise? Gulf Coast Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Norco, Louisiana needed money to invest in a Mochaccino's Gourmet Coffee & Tea franchise back in 2006. Gulf Coast Bank & Trust issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

MOCHACCINO'S COFFEE HOUSE
NORCO, LA 70079

SBA Loan Lender

GULF COAST BANK & TRUST
200 ST. CHARLES AVE
NEW ORLEANS, LA 70130

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/4/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mochaccino's Gourmet Coffee & Tea franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Gulf Coast Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

How to Raise Money

SBA 7A Banks in New Orleans, Louisiana

Getting an SBA Loan in Louisiana