Borrowing Money for Grocery and Related Products Wholesalers

With these bank loans for grocery and related products wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products wholesalers loan for $15,000 was given to a Louisiana entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Houma, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Coastal Commerce Bank, based in Houma, Louisiana.

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS
HOUMA, LA 70360

SBA Loan Lender

COASTAL COMMERCE BANK
1300 W TUNNEL BLVD
HOUMA, LA 70360

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422490 - Grocery and Related Products Wholesalers

Loan Approval Date

9/28/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

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 only one employee. The loan application indicated that the funding would help generate 1 new job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Coastal Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

Find an SBA Lender in Houma, Louisiana

SBA Louisiana Banks