Gulf Coast Bank SBA Loan to General Freight Trucking, Local Company
Gulf Coast Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Louisiana entrepreneur who tapped into the power of SBA loans.
This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Gulf Coast Bank, out of Abbeville, Louisiana. The loan was granted and they received $106,000 to help grow their Rayne, Louisiana business.
SBA Loan Borrower
COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
RAYNE, LA 70578
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
484110 - General Freight Trucking, Local
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $106,000 loan amount, the SBA guaranteed $90,100.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $106,000 loan. Remember, anyone can do it... so why not you?
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.
Business Line of Credit
Small Bank Loans in Abbeville, Louisiana
Louisiana SBA 7A Lenders