Youngsville, Louisiana Business Gets SBA-Guaranteed Funding from Home Bank

An SBA loan from Home Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Youngsville, Louisiana business owner got a $72,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Home Bank, out of Lafayette, Louisiana. The loan was granted and they received $72,000 to help grow their Youngsville, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
YOUNGSVILLE, LA 70592

SBA Loan Lender

HOME BANK
503 KALISTE SALOOM RD
LAFAYETTE, LA 70508

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

3/22/2004

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Home Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Home Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Line of Credit

SBA Approved Banks in Lafayette, Louisiana

Louisiana SBA 7A Banks