Houma, Louisiana Entrepreneur Gets a Bank Loan

LouisianaBusiness loans are available to Louisiana business owners through the SBA. In this case, a Louisiana bank provides the loan.

You can learn something about getting a small business loan in Houma, Louisiana by studying this loan to a local business, made back in 2000. Banks like Synergy Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
HOUMA, LA 70360

SBA Loan Lender

SYNERGY BANK
210 SYNERGY CENTER BLVD
HOUMA, LA 70360

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$87,300

Loan Approval from the SBA

Of the total $87,300 loan amount, the SBA guaranteed $69,840.

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 2 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Synergy 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:

Obtaining Funding - Getting Venture Capital

SBA 7A Lenders in Houma, Louisiana

Getting a Business Loan in Louisiana