Covington, Louisiana Entrepreneur Gets a Small Business Loan

Bank loans in Louisiana are are few and far betweeen these days. We take a look at one Louisiana bank loan, provided by a Louisiana bank, that was approved by the SBA.

Getting a small business loan in Covington, Louisiana was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Whitney National Bank. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
COVINGTON, LA 70434

SBA Loan Lender

WHITNEY NATIONAL BANK
228 ST. CHARLES AVE
NEW ORLEANS, LA 70130

When this loan was made, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program was created to provide quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

Loan Approval Date

7/18/2000

Loan Approval Gross Amount

$718,000

Loan Approval from the SBA

Of the total $718,000 loan amount, the SBA guaranteed $538,500.

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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $718,000 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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