Company Gets a Louisiana SBA Loan

SBA loans in Louisiana are hard to find these days. We take a look at one Louisiana SBA loan, provided by a Louisiana bank, that was approved by the SBA.

Getting a small business loan in New Iberia, Louisiana was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from St. Martin Bank & Trust. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEW IBERIA, LA 70560

SBA Loan Lender

ST. MARTIN BANK & TRUST
301 S MAIN ST
SAINT MARTINVILLE, LA 70582

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/26/2002

Loan Approval Gross Amount

$35,400

Loan Approval from the SBA

Of the total $35,400 loan amount, the SBA guaranteed $30,090.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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