Alexandria, LA Entrepreneur Gets SBA Loan to Buy Logan Farms Honey Glazed Hams Franchise

Borrowing money to invest in a Logan Farms Honey Glazed Hams franchise? Red River Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Logan Farms Honey Glazed Hams franchise may simply require a phone call to a local SBA banker. In 2004, Red River Bank issued an SBA franchise loan to an entrepreneur in Alexandria, Louisiana. Because Logan Farms Honey Glazed Hams was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

LOGAN FARMS HONEY GLAZED HAMS
ALEXANDRIA, LA 71303

SBA Loan Lender

RED RIVER BANK
1412 CENTRE COURT DR, STE 101
ALEXANDRIA, LA 71301

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

7/6/2004

Loan Approval Gross Amount

$93,500

Loan Approval from the SBA

Of the total $93,500 loan amount, the SBA guaranteed $79,475.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Logan Farms Honey Glazed Hams franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 Red River Bank 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:

Logan Farms Honey Glazed Hams

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Getting a Business Loan in Louisiana