SBA Loan from Gulf Coast Bank & Trust Helps Food Preparations Company

An SBA loan from Gulf Coast Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Slidell, Louisiana business owner got a $975,000 loan.

Getting a small business loan in Slidell, Louisiana was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Gulf Coast Bank & Trust, operating out of Morrow, Georgia. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD PREPARATIONS
SLIDELL, LA 70458

SBA Loan Lender

GULF COAST BANK & TRUST
7179 JONESBORO RD, STE 200
MORROW, GA 30260

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2099 - Food Preparations

NAICS Code

722320 - Caterers

Loan Approval Date

4/30/2002

Loan Approval Gross Amount

$975,000

Loan Approval from the SBA

Of the total $975,000 loan amount, the SBA guaranteed $731,250.

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 17 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $975,000 loan. Remember, where there is a will, there is a way!

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:

Role of Business Plan When Raising Money

Who Lends Money to Small Businesses in Morrow, Georgia

Getting a Business Loan in Georgia