Borrowing Money for Manufacturing

With these bank loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $658,000 was given to a Louisiana entrepreneur in 2002.

Getting a small business loan in Pearl River, Louisiana was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Houston, Texas. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
PEARL RIVER, LA 70452

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339999 - Manufacturing

Loan Approval Date

8/5/2002

Loan Approval Gross Amount

$658,000

Loan Approval from the SBA

Of the total $658,000 loan amount, the SBA guaranteed $493,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 9 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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