Louisiana Bank Loan Issued to Beauty Shops Company

Bank loans in Louisiana are are few and far betweeen these days. We take a look at one Louisiana bank loan, provided by a Louisiana bank, that was approved by the SBA.

This company, based in Gretna, 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 Bizcapital Bidco II, LLC. We've got the inside scoop on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
GRETNA, LA 70056

SBA Loan Lender

BIZCAPITAL BIDCO II, LLC
909 POYDRAS ST, SUITE 2230
NEW ORLEANS, LA 70112

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/1/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $25,000. How would you spend $25,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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SBA Participating Banks in Louisiana