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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 > Special Industry Machinery Loan | ||||
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Lafayette Bank Loan
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Lafayette, Louisiana Bank Gives SBA Loan to Special Industry Machinery CompanyWant to talk with a Lafayette, Louisiana bank about a business loan? Here's one Louisiana business loan, issued by a Lafayette bank, that was approved by the SBA. Applying for an SBA loan with Midsouth Bank worked out well for our friends at one local company in Scott, Louisiana. They got an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: SPECIAL INDUSTRY MACHINERY SBA Loan Lender MIDSOUTH BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3559 - Special Industry Machinery Loan Approval Date 3/15/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, if it to be, it is up to me! 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: Best Lafayette, Louisiana Banks for Small Business Browse All Business Loan Sources for Louisiana
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