Lake Charles, Louisiana Bank Gives SBA Loan to Water Well Drilling Company

Get to know Lake Charles, Louisiana banks that specialize in small business loans and know how to work with entrepreneurs. Midsouth Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Welsa, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Midsouth Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING
WELSA, LA 70591

SBA Loan Lender

MIDSOUTH BANK
4251 NELSON RD
LAKE CHARLES, LA 70605

This lender issued this particular business 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

1781 - Water Well Drilling

NAICS Code

234990 - Heavy Construction

Loan Approval Date

10/30/2000

Loan Approval Gross Amount

$135,127

Loan Approval from the SBA

Of the total $135,127 loan amount, the SBA guaranteed $101,345.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $135,127. How would you spend $135,127 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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