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May 14, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Covington, Business Loans > Parish National Bank Covington Business Loans > Commercial And Industrial Machinery And Equipment Rental And Leasing Loan | ||||
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Parish National Bank
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Business Loan from Parish National Bank Given to Commercial And Industrial Machinery And Equipment Rental And Leasing CompanyAn SBA loan from Parish National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mandeville, Louisiana business owner got a $58,500 loan. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Parish National Bank, out of Covington, Louisiana. The loan was granted and they received $58,500 to help grow their Mandeville, Louisiana business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING SBA Loan Lender PARISH NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA 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. NAICS Code 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 10/15/2002 Loan Approval Gross Amount $58,500 Loan Approval from the SBA Of the total $58,500 loan amount, the SBA guaranteed $49,725. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $58,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Covington, Louisiana Find an SBA Lender in Louisiana
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