New Orleans, Louisiana Bank Gives SBA Loan to Services Company

Find New Orleans, Louisiana banks that specialize in business loans and know how to work with entrepreneurs. First Bank And Trust is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Metairie, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from First Bank And Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SERVICES
METAIRIE, LA 70001

SBA Loan Lender

FIRST BANK AND TRUST
4100 GENERAL DE GAULLE DR, ST
NEW ORLEANS, LA 70131

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.

SIC Code

8999 - Services

Loan Approval Date

1/20/2000

Loan Approval Gross Amount

$82,400

Loan Approval from the SBA

Of the total $82,400 loan amount, the SBA guaranteed $65,920.

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 2 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank And Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

SBIR Funding

Small Business Banks in New Orleans, Louisiana

SBA Louisiana Lenders