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November 15, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Monroe, Business Loans > Ouachita Independent Bank Monroe Business Loans > Full-Service Restaurants Loan | ||||
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Monroe, Louisiana Bank for SBA Loans
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Monroe, Louisiana Lender Lends Money to Full-Service Restaurants CompanyThinking about meeting with a Monroe, Louisiana bank about a small business loan? Here's one Louisiana business loan, issued by a Monroe bank, that was approved by the SBA. Applying for an SBA loan with Ouachita Independent Bank worked out well for our friends at one local business in West Monroe, Louisiana. They got an SBA loan for $55,000. Great job! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender OUACHITA INDEPENDENT BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/18/2005 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Role of Business Plan When Raising Money Small Bank Loans in Monroe, Louisiana
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