Growing Company Gets a Louisiana Bank Loan

Looking to get a Louisiana bank loan? This Louisiana entrepreneur got a bank loan, provided by a Louisiana bank that works with the SBA to help small business owners.

By giving the right information to Omni Bank, this Metairie, Louisiana business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
METAIRIE, LA 70005

SBA Loan Lender

OMNI BANK
2900 RIDGELAKE DR
METAIRIE, LA 70002

This lender issued this particular small business 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.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Metairie LA, you ought to talk with a local Metairie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Metairie businesses.

We can help you find the best banks for small businesses in Metairie or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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