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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Old Missouri National Bank Springfield Business Loans > Refuse Systems Loan | ||||
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Missouri SBA Banks
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Springfield, Missouri Bank Lends Money to Refuse Systems Company in Ash Grove, MissouriWant to talk with a Springfield, Missouri bank about an SBA loan? Here's one Missouri business loan, issued by a Springfield bank, that was approved by the SBA. Applying for an SBA loan with Old Missouri National Bank worked out well for our friends at one local firm in Ash Grove, Missouri. They got an SBA loan for $125,000. Sweet! SBA Loan Borrower COMPANY TYPE: REFUSE SYSTEMS SBA Loan Lender OLD MISSOURI NATIONAL BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4953 - Refuse Systems NAICS Code 562211 - Hazardous Waste Treatment and Disposal Loan Approval Date 9/10/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Old Missouri National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in Springfield, Missouri
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