Entrepreneur Works With New Orleans, Louisiana Bank to Get an SBA Loan

Thinking about meeting with a New Orleans, Louisiana bank about an SBA loan? Here's one Louisiana business loan, issued by a New Orleans bank, that was approved by the SBA.

Applying for an SBA loan with First Bank And Trust worked out well for our friends at one local business in Metairie, Louisiana. They got an SBA loan for $1,100,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT
METAIRIE, LA 70002

SBA Loan Lender

FIRST BANK AND TRUST
909 POYDRAS ST, STE 100
NEW ORLEANS, LA 70112

This bank loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4412 - Deep Sea Foreign Transportation of Freight

NAICS Code

532411 - Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing

Loan Approval Date

5/16/2002

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $610,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Strategic Investors

Banks in New Orleans, Louisiana

Getting an SBA Loan in Louisiana