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November 15, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Lafayette, Business Loans > Midsouth Bank Lafayette Business Loans > Engineering Services Loan | ||||
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SBA Lender Scott
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Business Loan from Midsouth Bank Given to Engineering Services CompanyMidsouth Bank has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scott, Louisiana was able to borrow $15,000 from Midsouth Bank. The SBA made the loan possible by guaranteeing $12,750 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender MIDSOUTH BANK This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 1/4/2008 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $12,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had no employees. The SBA loan documents indicated that the borrowed money would help create 1 new job. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Midsouth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Lafayette, Louisiana Loans
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