Entrepreneur Works With Monroe, Louisiana Bank to Get an SBA Loan

A Monroe, Louisiana business loan can be yours. Learn how a business got a $376,694 business loan from this Louisiana bank.

This loan to an entrepreneur is a good example of an SBA loan. Iberiabank made the loan and the SBA guaranteed a portion of the loan. Many other Louisiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
MONROE, LA 71201

SBA Loan Lender

IBERIABANK
300 WASHINGTON ST, STE 100
MONROE, LA 71201

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

10/12/2001

Loan Approval Gross Amount

$376,694

Loan Approval from the SBA

Of the total $376,694 loan amount, the SBA guaranteed $282,521.

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 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Iberiabank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Iberiabank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

A Company That Helps Entrepreneurs

SBA 7A Lenders in Monroe, Louisiana

SBA Louisiana Lenders