Borrowing Money for Shellfish Fishing

With these small business loans for shellfish fishing, the SBA guarantees the lender that the loan will be repaid. This shellfish fishing loan for $720,000 was given to a Louisiana entrepreneur in 2000.

Getting a small business loan in Houma, Louisiana was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Small Business Loan Source LLC, operating out of Houston, Texas. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
HOUMA, LA 70363

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0913 - Shellfish

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

12/4/2000

Loan Approval Gross Amount

$720,000

Loan Approval from the SBA

Of the total $720,000 loan amount, the SBA guaranteed $540,000.

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 only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Small Business Loan Source LLC 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.

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