Gasoline Engine and Engine Parts Manufacturing Commercial Loans

Looking for commercial loans for gasoline engine and engine parts manufacturing? Talk to a banker who works with the SBA. This $150,000 gasoline engine and engine parts manufacturing loan was issued by a Louisiana bank.

This business knew how to go about getting a business bank loan. Based in Mandiville, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Omni Bank, based in Metairie, Louisiana.

SBA Loan Borrower

COMPANY TYPE: GASOLINE ENGINE AND ENGINE PARTS MANUFACTURING
MANDIVILLE, LA 70448

SBA Loan Lender

OMNI BANK
2900 RIDGELAKE DR
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.

NAICS Code

336312 - Gasoline Engine and Engine Parts Manufacturing

Loan Approval Date

7/6/2005

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 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. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

SBA Participating Banks in Metairie, Louisiana

Louisiana SBA 7A Lenders