Ruston, Louisiana Bank Lends Money to Eating Places Company in Monroe, Louisiana

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

Applying for an SBA loan with Bancorpsouth Bank worked out well for our friends at one local company in Monroe, Louisiana. The business was able to get an SBA loan for $76,300. Awesome!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MONROE, LA 71201

SBA Loan Lender

BANCORPSOUTH BANK
300 N TRENTON
RUSTON, LA 71270

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.

SIC Code

5812 - Eating Places

Loan Approval Date

1/27/2000

Loan Approval Gross Amount

$76,300

Loan Approval from the SBA

Of the total $76,300 loan amount, the SBA guaranteed $61,040.

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 24 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bancorpsouth Bank 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.

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