First Bank And Trust Provides SBA Loan to Buy Edible Arrangements Franchise

Borrowing money to buy an Edible Arrangements franchise? First Bank And Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Edible Arrangements franchise? If so, here's a 2004 SBA franchise loan that you should know about. First Bank And Trust was the lender and the entrepreneur was based in Metairie, Louisiana.

SBA Loan Borrower

EDIBLE ARRANGEMENTS OF METAIRI
METAIRIE, LA 70002

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722330 - Mobile Food Services

Loan Approval Date

10/19/2004

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company had 6 employees. The loan application 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank And Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank And Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Edible Arrangements

Strategic Investors

SBA Banks in New Orleans, Louisiana

Louisiana SBA 7A Banks