Omni Bank Gives Business Loan to Motorcycle, Atv, And Personal Watercraft Dealers Company

Would a Louisiana bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Louisiana bank, which offers SBA loans to Louisiana entrepreneurs.

This company, based in Covington, 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 Omni Bank. We've got the inside scoop on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
COVINGTON, LA 70433

SBA Loan Lender

OMNI BANK
2900 RIDGELAKE DR
METAIRIE, LA 70002

This SBA loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

1/28/2004

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Omni Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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