Raising Money for Ship Building and Repairing

With these bank loans for ship building and repairing, the SBA guarantees the lender that the loan will be repaid. This ship building and repairing loan for $150,000 was given to a Louisiana entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Omni Bank, out of Metairie, Louisiana. The loan was granted and they received $150,000 to help grow their Mandelville, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: BOAT BUILDING AND REPAIRING
MANDELVILLE, LA 70448

SBA Loan Lender

OMNI BANK
2900 RIDGELAKE
METAIRIE, LA 70002

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3732 - Boat Building and Repairing

NAICS Code

336611 - Ship Building and Repairing

Loan Approval Date

2/7/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Omni Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Omni Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 7A Banks for Metairie, Louisiana Loans

SBA Lenders in Louisiana