New Orleans, Louisiana Bank Lends Money to Homefurnishings Stores Company in Mandeville, Louisiana

Get small business loans from a New Orleans, Louisiana bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

First Bank And Trust is a New Orleans, Louisiana small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Louisiana company.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
MANDEVILLE, LA 70448

SBA Loan Lender

FIRST BANK AND TRUST
4100 GENERAL DE GAULLE DR, ST
NEW ORLEANS, LA 70131

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $108,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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