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April 28, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Gulf Coast Bank & Trust New Orleans Business Loans > Flooring Contractors Loan | ||||
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SBA Lenders in Metairie
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Business Loan from Gulf Coast Bank & Trust Given to Flooring Contractors CompanyAn SBA loan from Gulf Coast Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Metairie, Louisiana business owner got a $140,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Metairie, Louisiana was able to borrow $140,000 from Gulf Coast Bank & Trust. The SBA made the loan possible by guaranteeing $119,000 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: FLOORING CONTRACTORS SBA Loan Lender GULF COAST BANK & TRUST This was a Low Documentation SBA loan. The SBA launched this program to limit 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 238330 - Flooring Contractors Loan Approval Date 3/31/2004 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 $140,000 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: Obtaining Funding - Friends and Family Banks in New Orleans, Louisiana
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