Midsouth Bank SBA Loan to Snack And Nonalcoholic Beverage Bars Company

Midsouth Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Louisiana entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Lake Charles, Louisiana, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Midsouth Bank, based in Lake Charles, Louisiana.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
LAKE CHARLES, LA 70605

SBA Loan Lender

MIDSOUTH BANK
4251 NELSON RD
LAKE CHARLES, LA 70605

This SBA small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

This SBA loan was for $200,000. How would you spend $200,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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Small Business Banks in Lake Charles, Louisiana

Louisiana SBA 7A Lenders