New Orleans, Louisiana Lender Lends Money to Packaged Frozen Foods Company

Get to know New Orleans, Louisiana banks that specialize in SBA loans and know how to work with entrepreneurs. Whitney National Bank is one such bank, as evidenced by this SBA loan to a growing company.

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 local small business received funding from Whitney National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PACKAGED FROZEN FOODS
NEW ORLEANS, LA 70118

SBA Loan Lender

WHITNEY NATIONAL BANK
5335 TCHOUPITOULAS ST
NEW ORLEANS, LA 70115

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5142 - Packaged Frozen Foods

NAICS Code

424420 - Packaged Frozen Food Merchant Wholesalers

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$332,500

Loan Approval from the SBA

Of the total $332,500 loan amount, the SBA guaranteed $299,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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