Omni Bank Gives Small Business Loan to General Automotive Repair Shops Company

Small business loans in Louisiana are tough to come by these days. We take a look at one Louisiana small business loan, provided by a Louisiana bank, that was approved by the SBA.

This business, based in Harahan, 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: GENERAL AUTOMOTIVE REPAIR SHOPS
HARAHAN, LA 70123

SBA Loan Lender

OMNI BANK
2900 RIDGELAKE DR
METAIRIE, LA 70002

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/28/2000

Loan Approval Gross Amount

$25,100

Loan Approval from the SBA

Of the total $25,100 loan amount, the SBA guaranteed $12,550.

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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Omni Bank 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:

Business Cash Advances

SBA Participating Banks in Metairie, Louisiana

Louisiana SBA 7A Lenders