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May 13, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Gulf Coast Bank & Trust New Orleans Business Loans > Lessors Of Nonresidential Buildings Loan | ||||
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Louisiana Bank SBA Loans
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New Orleans, Louisiana Bank Gives SBA Loan to Lessors Of Nonresidential Buildings CompanyGet to know New Orleans, Louisiana banks that specialize in business loans and know how to work with entrepreneurs. Gulf Coast Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in New Orleans, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Gulf Coast Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS SBA Loan Lender GULF COAST BANK & TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 531120 - Lessors of Nonresidential Buildings Loan Approval Date 11/16/2004 Loan Approval Gross Amount $940,000 Loan Approval from the SBA Of the total $940,000 loan amount, the SBA guaranteed $705,000. 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 2 employees. The loan application indicated that the loan would help generate 70 new jobs and retain 70 existing jobs. Start the Process for Getting an SBA Loan Today! 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. 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: Realistic Debt Financing Options SBA 7A Banks for New Orleans, Louisiana Loans
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