Growing Company Gets a Louisiana Bank Loan

Want a Louisiana bank loan? This Louisiana entrepreneur got a bank loan, provided by a Louisiana bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Lake Charles, Louisiana by studying this loan to a local company, made back in 2006. Banks like First National Bank - Louisiana may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECTATOR SPORTS
LAKE CHARLES, LA 70605

SBA Loan Lender

FIRST NATIONAL BANK - LOUISIANA
128 N PARKERSON
CROWLEY, LA 70526

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711219 - Spectator Sports

Loan Approval Date

9/13/2006

Loan Approval Gross Amount

$124,700

Loan Approval from the SBA

Of the total $124,700 loan amount, the SBA guaranteed $105,995.

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 10 employees. The loan application indicated that the funding would help create 10 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Louisiana and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Incubators

SBA Banks in Crowley, Louisiana

Getting an SBA Loan in Louisiana