Business Loan from Gulf Coast Bank & Trust Given to Boat Dealers Company

Gulf Coast Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Louisiana entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Mandeville, Louisiana, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Gulf Coast Bank & Trust, based in New Orleans, Louisiana.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
MANDEVILLE, LA 70471

SBA Loan Lender

GULF COAST BANK & TRUST
200 ST. CHARLES AVE
NEW ORLEANS, LA 70130

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441222 - Boat Dealers

Loan Approval Date

10/11/2007

Loan Approval Gross Amount

$1,125,000

Loan Approval from the SBA

Of the total $1,125,000 loan amount, the SBA guaranteed $843,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Gulf Coast 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:

Find Start-Up Capital

SBA 7A Banks in New Orleans, Louisiana

Louisiana SBA Banks