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May 5, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Whitney National Bank New Orleans Business Loans > Full-Service Restaurants Loan | ||||
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Who Can Get a Business Loan in New Orleans, Louisiana?
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Financing for Full-Service RestaurantsLooking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $75,000 full-service restaurants loan was issued by a Louisiana bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Whitney National Bank, out of New Orleans, Louisiana. The loan was granted and they received $75,000 to help grow their New Orleans, Louisiana business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WHITNEY NATIONAL BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/29/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 5 employees. The loan application did not indicate that the business planned to use the money to hire new employees 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Whitney National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 - Getting Venture Capital Where to Get an SBA Loan in New Orleans, Louisiana
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