Mandeville, Louisiana Entrepreneur Gets a Bank Loan

Would a Louisiana bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Louisiana bank, which offers SBA loans to Louisiana entrepreneurs.

By giving the right information to Resource Bank, this Mandeville, Louisiana business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PAYROLL SERVICES
MANDEVILLE, LA 70471

SBA Loan Lender

RESOURCE BANK
2190 N CAUSEWAY BLVD
MANDEVILLE, LA 70471

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541214 - Payroll Services

Loan Approval Date

12/6/2001

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $95,200.

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 6 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Startup Funding Tip

Small Business Banks in Mandeville, Louisiana

SBA Lenders in Louisiana