SBA Loans for Machine Shops

Looking for SBA loans for machine shops? An SBA loan may be just what you've been looking for. This $149,713 machine shops loan was issued by a Louisiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houma, Louisiana was able to borrow $149,713 from Midsouth Bank. The SBA made the loan possible by guaranteeing $127,256 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
HOUMA, LA 70360

SBA Loan Lender

MIDSOUTH BANK
102 VERSAILLES
LAFAYETTE, LA 70501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/2/2005

Loan Approval Gross Amount

$149,713

Loan Approval from the SBA

Of the total $149,713 loan amount, the SBA guaranteed $127,256.

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 5 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Midsouth Bank 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:

Advice on Getting a Small Business Loan

Best Lafayette, Louisiana Banks for Small Business

SBA Lenders in Louisiana