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November 15, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Monroe, Business Loans > Ecd Investments Bidco Corp Monroe Business Loans > Full-Service Restaurants Loan | ||||
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Small Business Banks for Monroe, Louisiana Businesses
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Full-Service Restaurants LoansLooking for loans for full-service restaurants? Try the SBA. This $75,000 full-service restaurants loan was issued by a Louisiana bank. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Ecd Investments Bidco Corp, out of Monroe, Louisiana. The loan was granted and they received $75,000 to help grow their Monroe, Louisiana business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender ECD INVESTMENTS BIDCO CORP This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/15/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $75,000. How would you spend $75,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Business Banks in Monroe, Louisiana
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