Company Gets a Louisiana Bank Loan

Would a Louisiana SBA loan help your business get to the next level? If so, you may want to talk with this Louisiana bank, which offers SBA loans to Louisiana entrepreneurs.

This company, based in Lafayette, Louisiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Iberiabank. We've got the inside scoop on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BASIC ORGANIC CHEMICAL MANUFACTURING
LAFAYETTE, LA 70503

SBA Loan Lender

IBERIABANK
200 W CONGRESS
LAFAYETTE, LA 70501

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325199 - Basic Organic Chemical Manufacturing

Loan Approval Date

3/18/2003

Loan Approval Gross Amount

$41,700

Loan Approval from the SBA

Of the total $41,700 loan amount, the SBA guaranteed $35,445.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Lafayette LA, you ought to talk with a local Lafayette SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lafayette businesses.

This SBA loan was for $41,700. How would you spend $41,700 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.

Related Links:

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SBA 7A Lenders in Lafayette, Louisiana

Louisiana SBA Banks