Morgan City, Louisiana Business Gets SBA-Guaranteed Funding from Midsouth Bank

An SBA loan from Midsouth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Morgan City, Louisiana business owner got a $564,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Midsouth Bank, out of Lake Charles, Louisiana. The loan was granted and they received $564,000 to help grow their Morgan City, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MORGAN CITY, LA 70380

SBA Loan Lender

MIDSOUTH BANK
4251 NELSON RD
LAKE CHARLES, LA 70605

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$564,000

Loan Approval from the SBA

Of the total $564,000 loan amount, the SBA guaranteed $423,000.

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 only one employee. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Where to Get an SBA Loan in Lake Charles, Louisiana

Louisiana SBA Banks