Lafayette, Louisiana Entrepreneur Gets a Small Business Loan

Searching for a Louisiana small business loan? This Louisiana entrepreneur got a small business loan, provided by a Louisiana bank that works with the SBA to help small business owners.

By giving the right information to Midsouth Bank, this Lafayette, Louisiana business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: CLAIMS ADJUSTING
LAFAYETTE, LA 70808

SBA Loan Lender

MIDSOUTH BANK
2014 W PINHOOK
LAFAYETTE, LA 70508

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524291 - Claims Adjusting

Loan Approval Date

12/10/2001

Loan Approval Gross Amount

$52,215

Loan Approval from the SBA

Of the total $52,215 loan amount, the SBA guaranteed $44,382.

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 documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Startup Funding Tip

SBA Participating Banks in Lafayette, Louisiana

Where to Get an SBA Loan Louisiana