Covington, Louisiana Bank Gives SBA Loan to Sound Recording Studios Company

Want to talk with a Covington, Louisiana bank about an SBA loan? Here's one Louisiana business loan, issued by a Covington bank, that was approved by the SBA.

Applying for an SBA loan with Resource Bank worked out well for our friends at one local company in Covington, Louisiana. The business was able to get an SBA loan for $65,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SOUND RECORDING STUDIOS
COVINGTON, LA 70434

SBA Loan Lender

RESOURCE BANK
5100 VILLAGE WALK, STE 102
COVINGTON, LA 70433

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512240 - Sound Recording Studios

Loan Approval Date

1/16/2003

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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the 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) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

Related Links:

Obtaining Funding - How to Borrow Money

Best Covington, Louisiana Banks for Small Business

Getting an SBA Loan in Louisiana