 |
 |
May 5, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Whitney National Bank New Orleans Business Loans > Electrical Contractors Loan | ||||
 |
||||
Raising Money in Terrytown, Louisiana With SBA Loans
|
||||
 |
Electrical Contractors Small Business LoansWith these small business loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $67,500 was given to a Louisiana entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Terrytown, Louisiana was able to borrow $67,500 from Whitney National Bank. The SBA made the loan possible by guaranteeing $57,375 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS SBA Loan Lender WHITNEY NATIONAL BANK 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. NAICS Code 235310 - Electrical Contractors Loan Approval Date 11/5/2001 Loan Approval Gross Amount $67,500 Loan Approval from the SBA Of the total $67,500 loan amount, the SBA guaranteed $57,375. 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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Bank Loans in New Orleans, Louisiana
|
|
||
|
||||
|
|
||||