Growing Company Gets a Louisiana Small Business Loan

Looking to get a Louisiana bank loan? This Louisiana entrepreneur got a bank loan, provided by a Louisiana bank that works with the SBA to help small business owners.

This business, based in Cut Off, Louisiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from South Lafourche Bank & Trust. We've got the inside scoop on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
CUT OFF, LA 70345

SBA Loan Lender

SOUTH LAFOURCHE BANK & TRUST
13226 W MAIN
LAROSE, LA 70373

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

1/19/2000

Loan Approval Gross Amount

$88,600

Loan Approval from the SBA

Of the total $88,600 loan amount, the SBA guaranteed $70,880.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into South Lafourche Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Raising VC Money for Social Networking Companies

Who Lends Money to Small Businesses in Larose, Louisiana

Where to Get an SBA Loan Louisiana