Gulf Coast Bank SBA Loan to Drinking Places Company
An SBA loan from Gulf Coast Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Opelousas, Louisiana business owner got a $32,000 loan.
This business knew how to go about getting a business bank loan. Based in Opelousas, Louisiana, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Gulf Coast Bank, based in Abbeville, Louisiana.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
OPELOUSAS, LA 70506
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
722410 - Drinking Places
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $32,000 loan amount, the SBA guaranteed $27,200.
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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This SBA loan was for $32,000. How would you spend $32,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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