Kenner, Louisiana Business Gets SBA-Guaranteed Funding from Bizcapital Bidco II, LLC

An SBA loan from Bizcapital Bidco II, LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kenner, Louisiana business owner got a $1,100,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Kenner, Louisiana, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Bizcapital Bidco II, LLC, based in New Orleans, Louisiana.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
KENNER, LA 70065

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

9/14/2001

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the funding would help generate 20 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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