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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Hamilton, Business Loans > Bank Northwest Hamilton Business Loans > Farm And Garden Machinery And Equipment Loan | ||||
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Banks in Missouri
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Outdoor Power Equipment Stores Business LoansWith these business loans for outdoor power equipment stores, the SBA guarantees the lender that the loan will be repaid. This outdoor power equipment stores loan for $300,000 was given to a Missouri entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Braymer, Missouri was able to borrow $300,000 from Bank Northwest. The SBA made the loan possible by guaranteeing $225,000 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT SBA Loan Lender BANK NORTHWEST This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5083 - Farm and Garden Machinery and Equipment NAICS Code 444210 - Outdoor Power Equipment Stores Loan Approval Date 1/14/2004 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Northwest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Northwest made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Hamilton, Missouri Banks for Small Business Browse All Business Loan Sources for Missouri
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