SBA Loan from Source Business & Indust Devel Cor Helps Eating Places Company

An SBA loan from Source Business & Indust Devel Cor typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Houma, Louisiana business owner got a $575,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houma, Louisiana was able to borrow $575,000 from Source Business & Indust Devel Cor. The SBA made the loan possible by guaranteeing $431,250 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HOUMA, LA 70363

SBA Loan Lender

SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/20/2000

Loan Approval Gross Amount

$575,000

Loan Approval from the SBA

Of the total $575,000 loan amount, the SBA guaranteed $431,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 28 employees. The SBA loan documents indicated that the loan would help generate 28 new jobs and retain 28 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $575,000. How would you spend $575,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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