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May 5, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Metairie, Business Loans > Omni Bank Metairie Business Loans > Chocolate And Confectionery Manufacturing From Cacao Beans Loan | ||||
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What Does It Take to Get a Business Loan in Jefferson, Louisiana?
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Chocolate and Confectionery Manufacturing from Cacao Beans Small Business LoansLooking for small business loans for chocolate and confectionery manufacturing from cacao beans? The SBA may be the answer. This $600,000 chocolate and confectionery manufacturing from cacao beans loan was issued by a Louisiana bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jefferson, Louisiana was able to borrow $600,000 from Omni Bank. The SBA made the loan possible by guaranteeing $450,000 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: CHOCOLATE AND CONFECTIONERY MANUFACTURING FROM CACAO BEANS SBA Loan Lender OMNI BANK This SBA business loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311320 - Chocolate and Confectionery Manufacturing from Cacao Beans Loan Approval Date 8/25/2003 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 19 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business 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. 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Metairie, Louisiana
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