Borrowing Money for Shellfish Fishing

With these loans for shellfish fishing, the SBA guarantees the lender that the loan will be repaid. This shellfish fishing loan for $670,000 was given to a Louisiana entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Orleans, Louisiana was able to borrow $670,000 from Bizcapital Bidco II, LLC. The SBA made the loan possible by guaranteeing $502,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
NEW ORLEANS, LA 70131

SBA Loan Lender

BIZCAPITAL BIDCO II, LLC
909 POYDRAS ST, SUITE 2230
NEW ORLEANS, LA 70112

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0913 - Shellfish

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

9/12/2000

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 $670,000 loan. Remember, if it to be, it is up to me!

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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