Gulf Coast Bank & Trust Provides SBA Loan to Buy Smoothie King health Food Store Franchise

Borrowing money to invest in a Smoothie King health Food Store franchise? Gulf Coast Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Smoothie King health Food Store franchise loans are available to River Ridge, Louisiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Gulf Coast Bank & Trust, based in New Orleans, Louisiana, issued an SBA franchise loan for a Smoothie King health Food Store franchise in 2004. We've got all the details on this Louisiana small business loan.

SBA Loan Borrower

SMOOTHIE KING - RIVER RIDGE
RIVER RIDGE, LA 70123

SBA Loan Lender

GULF COAST BANK & TRUST
200 ST. CHARLES AVE
NEW ORLEANS, LA 70130

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in River Ridge LA, you ought to talk with a local River Ridge SBA lender or talk with an out-of-area SBA lender that has previously loaned money to River Ridge 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:

Smoothie King

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Good Banks for Small Business in New Orleans, Louisiana

Where to Get an SBA Loan Louisiana