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December 19, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Independence, Business Loans > First National Bank - Missouri Independence Business Loans > Single-Family Housing Construction Loan | ||||
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SBA Loan from First National Bank - Missouri
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First National Bank - Missouri SBA Loan to Single-Family Housing Construction CompanyAn SBA loan from First National Bank - Missouri typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Blue Springs, Missouri business owner got a $66,000 loan. Getting a small business loan in Blue Springs, Missouri was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Missouri, operating out of Independence, Missouri. Here are the details on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender FIRST NATIONAL BANK - MISSOURI 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 debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1521 - Single-Family Housing Construction NAICS Code 233210 - Single Family Housing Construction Loan Approval Date 3/29/2004 Loan Approval Gross Amount $66,000 Loan Approval from the SBA Of the total $66,000 loan amount, the SBA guaranteed $56,100. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 First National Bank - Missouri 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: Best Banks for Small Business in Independence, Missouri
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