Borrowing Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? The SBA may be the answer. This $118,200 limited-service restaurants loan was issued by a Louisiana bank.

This small firm knew how to go about getting a business bank loan. Based in Kenner, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First Bank And Trust, based in Kenner, Louisiana.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
KENNER, LA 70065

SBA Loan Lender

FIRST BANK AND TRUST
3301 WILLIAMS BLVD
KENNER, LA 70065

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

1/31/2002

Loan Approval Gross Amount

$118,200

Loan Approval from the SBA

Of the total $118,200 loan amount, the SBA guaranteed $100,470.

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 15 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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 First Bank And Trust 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.

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