Covington, Louisiana Lender Lends Money to Chiropractors Company

Want to talk with a Covington, Louisiana bank about a business loan? Here's one Louisiana business loan, issued by a Covington bank, that was approved by the SBA.

Applying for an SBA loan with Resource Bank worked out well for our friends at one local firm in Mandeville, Louisiana. They got an SBA loan for $30,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
MANDEVILLE, LA 70471

SBA Loan Lender

RESOURCE BANK
5100 VILLAGE WALK, STE 102
COVINGTON, LA 70433

This was a Low Documentation SBA loan. The SBA started this program to limit 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Resource Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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