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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Village Bank Springfield Business Loans > Grocery Stores Loan | ||||
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SBA Lenders Missouri
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Springfield, Missouri Bank Gives SBA Loan to Grocery Stores CompanyGet small business loans from a Springfield, Missouri bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Village Bank is a Springfield, Missouri small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Missouri company. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender VILLAGE BANK This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 11/8/2000 Loan Approval Gross Amount $1,025,000 Loan Approval from the SBA Of the total $1,025,000 loan amount, the SBA guaranteed $748,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. 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: Banking Deregulation's Effects on Entrepreneurship Where to Get an SBA Loan in Springfield, Missouri
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