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May 16, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Mandeville, Business Loans > Resource Bank Mandeville Business Loans > Eating Places Loan | ||||
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Resource Bank Folsom
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Resource Bank SBA Loan to Eating Places CompanyAn SBA loan from Resource Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Folsom, Louisiana business owner got a $75,000 loan. This small firm knew how to go about getting a business bank loan. Based in Folsom, Louisiana, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Resource Bank, based in Mandeville, Louisiana. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender RESOURCE BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/27/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Participating Banks in Mandeville, Louisiana
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