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May 15, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Kenner, Business Loans > First Bank And Trust Kenner Business Loans > Oil And Gas Field Machinery And Equipment Manufacturing Loan | ||||
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SBA Lender Morgan City Louisiana
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Louisiana Business Loan Issued to Oil And Gas Field Machinery And Equipment Manufacturing CompanyWould a Louisiana bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Louisiana bank, which offers SBA loans to Louisiana entrepreneurs. By giving the right information to First Bank And Trust, this Morgan City, Louisiana business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender FIRST BANK AND TRUST At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 12/31/2003 Loan Approval Gross Amount $560,000 Loan Approval from the SBA Of the total $560,000 loan amount, the SBA guaranteed $420,000. 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 30 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank And Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 - How to Decide How Much to Raise Small Business Banks in Kenner, Louisiana Find an SBA Lender in Louisiana
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