New Orleans, Louisiana Bank Gives SBA Loan to Motion Picture And Video Production Company

Find New Orleans, Louisiana banks that specialize in SBA loans and know how to work with entrepreneurs. First Bank And Trust is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in New Orleans, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Bank And Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION
NEW ORLEANS, LA 70124

SBA Loan Lender

FIRST BANK AND TRUST
4100 GENERAL DE GAULLE DR, ST
NEW ORLEANS, LA 70131

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA 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

512110 - Motion Picture and Video Production

Loan Approval Date

3/18/2003

Loan Approval Gross Amount

$56,800

Loan Approval from the SBA

Of the total $56,800 loan amount, the SBA guaranteed $48,280.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $56,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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