Hancock Bank Gives Business Loan to Automatic Vending Machine Manufacturing Company

Would a Louisiana bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Mississippi bank, which offers SBA loans to Louisiana entrepreneurs.

You can learn something about getting a small business loan in Baton Rouge, Louisiana by studying this loan to a local company, made back in 2005. Banks like Hancock Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC VENDING MACHINE MANUFACTURING
BATON ROUGE, LA 70817

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA promises a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333311 - Automatic Vending Machine Manufacturing

Loan Approval Date

8/23/2005

Loan Approval Gross Amount

$166,000

Loan Approval from the SBA

Of the total $166,000 loan amount, the SBA guaranteed $124,500.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

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

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 $166,000 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.

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