Commercial and Institutional Building Construction Small Business Loans

Looking for small business loans for commercial and institutional building construction? The SBA may be the answer. This $150,000 commercial and institutional building construction loan was issued by a Louisiana bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Bank And Trust, out of New Orleans, Louisiana. The loan was granted and they received $150,000 to help grow their Metairie, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
METAIRIE, LA 70002

SBA Loan Lender

FIRST BANK AND TRUST
909 POYDRAS ST, STE 100
NEW ORLEANS, LA 70112

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. 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

1799 - Special Trade Contractors

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

2/14/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, 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:

Getting a Small Business Loan

SBA 7A Lenders in New Orleans, Louisiana

Louisiana SBA Bank Lenders