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April 27, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > First Bank And Trust New Orleans Business Loans > Eating Places Loan | ||||
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Louisiana Bank SBA Loans
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First Bank And Trust SBA Loan to Eating Places CompanySearching for a Louisiana SBA loan? Here's one Louisiana business loan that was approved by the SBA. This local small business knew how to go about getting a business bank loan. Based in New Orleans, Louisiana, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was First Bank And Trust, based in New Orleans, Louisiana. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST BANK AND TRUST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 8/30/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Find an SBA Lender in New Orleans, Louisiana Getting an SBA Loan in Louisiana
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