Commercial Loans for Health and Personal Care Stores

Looking for commercial loans for health and personal care stores? Try the SBA. This $49,500 health and personal care stores loan was issued by a Louisiana bank.

This business knew how to go about getting a business bank loan. Based in Sterlington, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bancorpsouth Bank, based in Monroe, Louisiana.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND PERSONAL CARE STORES
STERLINGTON, LA 71280

SBA Loan Lender

BANCORPSOUTH BANK
1220 N 18TH ST
MONROE, LA 71201

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446199 - Health and Personal Care Stores

Loan Approval Date

8/4/2004

Loan Approval Gross Amount

$49,500

Loan Approval from the SBA

Of the total $49,500 loan amount, the SBA guaranteed $42,075.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bancorpsouth Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Incubators

Who Lends Money to Small Businesses in Monroe, Louisiana

SBA Louisiana Banks