Raising Money for Video Tape and Disc Rental

Looking for business loans for video tape and disc rental? Try the SBA. This $95,000 video tape and disc rental loan was issued by a Louisiana bank.

This small business knew how to go about getting a business bank loan. Based in Springfield, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First Guaranty Bank, based in Hammond, Louisiana.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
SPRINGFIELD, LA 70462

SBA Loan Lender

FIRST GUARANTY BANK
400 E THOMAS ST
HAMMOND, LA 70401

This lender issued this particular debt financing 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.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

10/2/2002

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 First Guaranty 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:

VC Firms on Twitter

Small Bank Loans in Hammond, Louisiana

SBA Louisiana Banks