Paint and Wallpaper Stores Commercial Loans
With these commercial loans for paint and wallpaper stores, the SBA guarantees the lender that the loan will be repaid. This paint and wallpaper stores loan for $50,000 was given to a Louisiana entrepreneur in 2006.
Getting a small business loan in Denham Springs, Louisiana was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Hancock Bank, operating out of Gulfport, Mississippi. Here are the details on this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: PAINT AND WALLPAPER STORES
DENHAM SPRINGS, LA 70806
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
444120 - Paint and Wallpaper Stores
Loan Approval Date
3/1/2006
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Equity Financing
SBA Approved Banks in Gulfport, Mississippi
Where to Get an SBA Loan Mississippi