Midsouth Bank SBA Loan to Grocery Stores Company

Want a Louisiana small business loan? Here's one Louisiana business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Berwick, Louisiana was able to borrow $171,585 from Midsouth Bank. The SBA made the loan possible by guaranteeing $128,689 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BERWICK, LA 70342

SBA Loan Lender

MIDSOUTH BANK
1015 BRASHEAR AVE
MORGAN CITY, LA 70380

This SBA loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

Loan Approval Date

6/29/2000

Loan Approval Gross Amount

$171,585

Loan Approval from the SBA

Of the total $171,585 loan amount, the SBA guaranteed $128,689.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Midsouth Bank and they will explain how you can get an SBA loan for your company.

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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