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May 3, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Kenner, Business Loans > First Bank And Trust Kenner Business Loans > Mobile Food Services Loan | ||||
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First Bank And Trust Small Business New Orleans, LA
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Business Loan from First Bank And Trust Given to Mobile Food Services CompanyFirst Bank And Trust has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in New Orleans, Louisiana, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Bank And Trust, based in Kenner, Louisiana. SBA Loan Borrower COMPANY TYPE: MOBILE FOOD SERVICES SBA Loan Lender FIRST BANK AND TRUST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722330 - Mobile Food Services Loan Approval Date 9/10/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in New Orleans or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 - How to Decide How Much to Raise Best Banks in Kenner, Louisiana SBA Participating Banks in Louisiana
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