Getting an SBA Loan for Meat Markets

With these commercial loans for meat markets, the SBA guarantees the lender that the loan will be repaid. This meat markets loan for $114,300 was given to a Louisiana entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Midsouth Bank, out of Lafayette, Louisiana. The loan was granted and they received $114,300 to help grow their Lafayette, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: MEAT MARKETS
LAFAYETTE, LA 70508

SBA Loan Lender

MIDSOUTH BANK
102 VERSAILLES
LAFAYETTE, LA 70501

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445210 - Meat Markets

Loan Approval Date

8/30/2005

Loan Approval Gross Amount

$114,300

Loan Approval from the SBA

Of the total $114,300 loan amount, the SBA guaranteed $97,155.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Midsouth Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Lafayette, Louisiana

Louisiana SBA Bank Lenders