Morgan City, Louisiana Business Gets SBA-Guaranteed Funding from Bizcapital Bidco II, LLC

Bizcapital Bidco II, LLC has a track record as a leading provider of SBA loans. Find out how this Louisiana entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Morgan City, Louisiana, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Bizcapital Bidco II, LLC, based in New Orleans, Louisiana.

SBA Loan Borrower

COMPANY TYPE: FERRIES
MORGAN CITY, LA 70381

SBA Loan Lender

BIZCAPITAL BIDCO II, LLC
909 POYDRAS ST, SUITE 2230
NEW ORLEANS, LA 70112

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4482 - Ferries

NAICS Code

483114 - Coastal and Great Lakes Passenger Transportation

Loan Approval Date

4/20/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Morgan City LA, you ought to talk with a local Morgan City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Morgan City businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bizcapital Bidco II, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bizcapital Bidco II, LLC 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.

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