Business Loans for Locksmiths

With these business loans for locksmiths, the SBA guarantees the lender that the loan will be repaid. This locksmiths loan for $33,800 was given to a Louisiana entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Lake Charles, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Midsouth Bank, based in Lake Charles, Louisiana.

SBA Loan Borrower

COMPANY TYPE: LOCKSMITHS
LAKE CHARLES, LA 70605

SBA Loan Lender

MIDSOUTH BANK
4251 NELSON RD
LAKE CHARLES, LA 70605

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561622 - Locksmiths

Loan Approval Date

8/8/2003

Loan Approval Gross Amount

$33,800

Loan Approval from the SBA

Of the total $33,800 loan amount, the SBA guaranteed $28,730.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $33,800 loan. Remember, fight for what you want, and it will be yours!

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:

Accountant's Role in Securing Financing

Small Bank Loans in Lake Charles, Louisiana

Louisiana SBA Banks