Business Loans for Food Manufacturing

With these business loans for food manufacturing, the SBA guarantees the lender that the loan will be repaid. This food manufacturing loan for $51,500 was given to a Louisiana entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with United Bank And Trust Company, out of New Orleans, Louisiana. The loan was granted and they received $51,500 to help grow their New Orleans, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: FOOD PREPARATIONS
NEW ORLEANS, LA 70122

SBA Loan Lender

UNITED BANK AND TRUST COMPANY
2714 CANAL ST
NEW ORLEANS, LA 70119

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2099 - Food Preparations

NAICS Code

311999 - Food Manufacturing

Loan Approval Date

11/20/2000

Loan Approval Gross Amount

$51,500

Loan Approval from the SBA

Of the total $51,500 loan amount, the SBA guaranteed $41,200.

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. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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