Hancock Bank SBA Loan to Coin-Operated Laundries And Drycleaners Company
Hancock Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Louisiana entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baton Rouge, Louisiana was able to borrow $50,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $42,500 of this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
BATON ROUGE, LA 70810
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
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 loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
812310 - Coin-Operated Laundries and Drycleaners
Loan Approval Date
11/19/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 loan application indicated that the loan would help generate 1 new job and retain 1 existing job.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Attracting Investors
Good Banks for Small Business in Gulfport, Mississippi
SBA Mississippi Banks