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February 8, 2023  
 
 
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How to Get SBA Loans in Scott, Louisiana

 

 
Loan Census SBA Loan Info

How to Get a Loan for Store Retailers

Looking for business loans for store retailers? Try the SBA. This $35,000 store retailers loan was issued by a Louisiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scott, Louisiana was able to borrow $35,000 from Gulf Coast Bank. The SBA made the loan possible by guaranteeing $29,750 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
Scott, LA 70583

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.

NAICS Code

453998 - Store Retailers

Loan Approval Date

4/16/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Gulf Coast Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Where to Get an SBA Loan in Abbeville, Louisiana

Louisiana SBA 7A Banks