First Bank And Trust Gives Business Loan to Personal Care Services Company
Business loans in Louisiana are are few and far betweeen these days. We take a look at one Louisiana business loan, provided by a Louisiana bank, that was approved by the SBA.
Getting a small business loan in New Orleans, Louisiana was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Bank And Trust. Here are the details on this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: PERSONAL CARE SERVICES
NEW ORLEANS, LA 70131
SBA Loan Lender
FIRST BANK AND TRUST
909 POYDRAS ST, STE 100
NEW ORLEANS, LA 70112
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
812199 - Personal Care Services
Loan Approval Date
4/19/2004
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $21,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This SBA loan was for $25,000. How would you spend $25,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Small Business Loan
SBA 7A Banks in New Orleans, Louisiana
Louisiana SBA Banks