Broussard, LA Entrepreneur Gets SBA Loan to Buy Bath Junkie Franchise

Borrowing money to purchase a Bath Junkie franchise? Midsouth Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Broussard, Louisiana and are interested in buying a Bath Junkie franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Midsouth Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MEMOLANO, LLC
BROUSSARD, LA 70518

SBA Loan Lender

MIDSOUTH BANK
102 VERSAILLES
LAFAYETTE, LA 70501

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

327111 - Plumbing Fixtures, China and Earthenware Bathroom Accessories

Loan Approval Date

12/10/2004

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bath Junkie franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $65,000. How would you spend $65,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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