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November 23, 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 > Electronic Component Manufacturing Loan | ||||
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Business Res. Cap. Specialty B Small Business Loans Baton Rouge
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Baton Rouge, Louisiana Business Gets SBA-Guaranteed Funding from Business Res. Cap. Specialty BBusiness Res. Cap. Specialty B has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baton Rouge, Louisiana was able to borrow $700,000 from Business Res. Cap. Specialty B. The SBA made the loan possible by guaranteeing $525,000 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC COMPONENT MANUFACTURING SBA Loan Lender BUSINESS RES. CAP. SPECIALTY B SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334419 - Electronic Component Manufacturing Loan Approval Date 7/22/2005 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 18 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source 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: SBA Banks in New Orleans, Louisiana
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