Business Loan from Synergy Bank Given to Limited-Service Restaurants Company

An SBA loan from Synergy Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Houma, Louisiana business owner got a $70,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houma, Louisiana was able to borrow $70,000 from Synergy Bank. The SBA made the loan possible by guaranteeing $59,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HOUMA, LA 70364

SBA Loan Lender

SYNERGY BANK
210 SYNERGY CENTER BLVD
HOUMA, LA 70360

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/19/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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

Next Steps for Getting an SBA Loan

If you need money to start business in Houma LA, you ought to talk with a local Houma SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Houma businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Synergy Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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SBA Banks in Houma, Louisiana

SBA Lenders in Louisiana