Coastal Commerce Bank SBA Loan to Clothing Accessories Stores Company

Coastal Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Louisiana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Lafayette, Louisiana was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Coastal Commerce Bank, operating out of Houma, Louisiana. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
LAFAYETTE, LA 70508

SBA Loan Lender

COASTAL COMMERCE BANK
1300 W TUNNEL BLVD
HOUMA, LA 70360

This lender issued this small business loan under the SBA 7A lending 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.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

8/13/2007

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 7 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $120,000 loan. Remember, anyone can do it... so why not you?

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:

Family and Friend Investors - Your First Financiers

Good Banks for Small Business in Houma, Louisiana

SBA Lenders in Louisiana