Local Business Gets a Louisiana SBA Loan

Business loans in Louisiana are tough to come by these days. We take a look at one Louisiana business loan, provided by a Louisiana bank, that was approved by the SBA.

This business, based in Metaire, Louisiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Omni Bank. We've got the inside scoop on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL COATING, ENGRAVING AND ALLIED SERVICES
METAIRE, LA 70005

SBA Loan Lender

OMNI BANK
330 CARONDELET ST
NEW ORLEANS, LA 70130

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332812 - Metal Coating, Engraving and Allied Services

Loan Approval Date

9/15/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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.

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