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November 14, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Business Res. Cap. Specialty B New Orleans Business Loans > Cut And Sew Apparel Manufacturing Loan | ||||
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SBA Lenders for Baton Rouge Small Businesses
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Growing Company Gets a Louisiana Business LoanLouisianaBank loans are available to Louisiana firms through the SBA. In this case, a Louisiana bank provides the loan. This small business, based in Baton Rouge, Louisiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Res. Cap. Specialty B. We've got the inside scoop on this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: CUT AND SEW APPAREL MANUFACTURING SBA Loan Lender BUSINESS RES. CAP. SPECIALTY B This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 315299 - Cut and Sew Apparel Manufacturing Loan Approval Date 6/23/2004 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 documents did not indicate that the SBA funding recipient planned to use the money to hire new 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 Baton Rouge LA, you ought to talk with a local Baton Rouge SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baton Rouge businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Res. Cap. Specialty B and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 New Orleans, Louisiana Banks for Small Business
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