Louisiana SBA Loan Issued to Metalworking Machinery Manufacturing Company

Small business loans in Louisiana are tough to come by these days. We take a look at one Louisiana small business loan, provided by a Louisiana bank, that was approved by the SBA.

Getting a small business loan in Lafayette, Louisiana was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Rayne St. Bank & Trust. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING
LAFAYETTE, LA 70506

SBA Loan Lender

RAYNE ST. BANK & TRUST
200 S ADAMS AVE
RAYNE, LA 70578

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

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

11/18/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rayne St. Bank & Trust 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:

Business Credit Evaluation

Banks in Rayne, Louisiana

Getting a Business Loan in Louisiana