Covington, Louisiana Business Gets SBA-Guaranteed Funding from Resource Bank

Resource Bank has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Covington, Louisiana was able to borrow $100,000 from Resource Bank. The SBA made the loan possible by guaranteeing $85,000 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS
COVINGTON, LA 70433

SBA Loan Lender

RESOURCE BANK
2190 N CAUSEWAY BLVD
MANDEVILLE, LA 70471

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

423220 - Home Furnishing Merchant Wholesalers

Loan Approval Date

10/12/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 3 employees. The SBA loan application for the borrower 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?

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours 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.

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