Raising Money for Support Services

With these bank loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $150,000 was given to a Louisiana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Orleans, Louisiana was able to borrow $150,000 from Business Res. Cap. Specialty B. The SBA made the loan possible by guaranteeing $127,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT SERVICES
NEW ORLEANS, LA 70127

SBA Loan Lender

BUSINESS RES. CAP. SPECIALTY B
650 POYDRAS ST., STE.1220
NEW ORLEANS, LA 70130

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561990 - Support Services

Loan Approval Date

9/26/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add 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.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Choosing VC Firms

Banks in New Orleans, Louisiana

Browse All Business Loan Sources for Louisiana