Abbeville, Louisiana Lender Lends Money to Grocery Stores Company
An Abbeville, Louisiana small business loan can be yours. Learn how one firm got a $300,000 business loan from this Louisiana bank.
This loan to a local firm is a good example of an SBA loan. Gulf Coast Bank made the loan and the SBA guaranteed a portion of the loan. Many other Louisiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: GROCERY STORES
OPELOUSAS, LA 70541
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to give speedy 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.
5411 - Grocery Stores
445120 - Convenience Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $300,000 loan amount, the SBA guaranteed $225,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 4 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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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