Hammond, Louisiana Lender Lends Money to Garment Pressing And Cleaners Agents For Laundries Company

Get to know Hammond, Louisiana banks that specialize in small business loans and know how to work with entrepreneurs. First Guaranty Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Homer, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First Guaranty Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES
HOMER, LA 71040

SBA Loan Lender

FIRST GUARANTY BANK
400 E THOMAS ST
HAMMOND, LA 70401

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7212 - Garment Pressing and Cleaners Agents for Laundries

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

11/28/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $60,000 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.

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