Omni Bank SBA Loan to Beauty Salons Company

Omni Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Louisiana entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in New Orleans, Louisiana was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Omni Bank, operating out of New Orleans, Louisiana. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
NEW ORLEANS, LA 70130

SBA Loan Lender

OMNI BANK
330 CARONDELET ST
NEW ORLEANS, LA 70130

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

812112 - Beauty Salons

Loan Approval Date

7/30/2003

Loan Approval Gross Amount

$42,000

Loan Approval from the SBA

Of the total $42,000 loan amount, the SBA guaranteed $35,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in New Orleans LA, you ought to talk with a local New Orleans SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Orleans businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $42,000 loan. Remember, feel the fear, and do it anyway.

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:

Accountant's Role in Securing Financing

SBA 7A Banks for New Orleans, Louisiana Loans

Louisiana SBA Bank Lenders