Specialty Trade Contractors Small Business Loans

Looking for small business loans for specialty trade contractors? The SBA may be the answer. This $73,000 specialty trade contractors loan was issued by a Louisiana bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Wilshire Louisiana Bidco, LLC, out of Baton Rouge, Louisiana. The loan was granted and they received $73,000 to help grow their Shreveport, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
SHREVEPORT, LA 71104

SBA Loan Lender

WILSHIRE LOUISIANA BIDCO, LLC
8752 QUARTERS LAKE ROAD, SUIT
BATON ROUGE, LA 70809

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

7/24/2006

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

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. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Friends and Family Network

Where to Get an SBA Loan in Baton Rouge, Louisiana

Find an SBA Lender in Louisiana