Commercial Loans for Food Supplement Stores

With these commercial loans for food supplement stores, the SBA guarantees the lender that the loan will be repaid. This food supplement stores loan for $10,200 was given to a Louisiana entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lafayette, Louisiana was able to borrow $10,200 from Iberiabank. The SBA made the loan possible by guaranteeing $8,160 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
LAFAYETTE, LA 70503

SBA Loan Lender

IBERIABANK
200 W CONGRESS
LAFAYETTE, LA 70501

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

12/11/2000

Loan Approval Gross Amount

$10,200

Loan Approval from the SBA

Of the total $10,200 loan amount, the SBA guaranteed $8,160.

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 10 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Iberiabank 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.

Related Links:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Lafayette, Louisiana

SBA Louisiana Banks