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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 > Automotive Oil Change And Lubrication Shops Loan | ||||
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Louisiana Small Business Funding
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Automotive Oil Change and Lubrication Shops Commercial LoansLooking for commercial loans for automotive oil change and lubrication shops? The SBA may be the answer. This $125,000 automotive oil change and lubrication shops loan was issued by a Louisiana bank. This business knew how to go about getting a business bank loan. Based in Terrytown, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Bank And Trust, based in New Orleans, Louisiana. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS SBA Loan Lender FIRST BANK AND TRUST 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 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 12/21/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 $125,000 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: Small Business Banks in New Orleans, Louisiana Getting a Business Loan in Louisiana
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