Business Loan from Freedom Bank - Southern Missouri Given to Sporting And Athletic Goods Manufacturing Company

An SBA loan from Freedom Bank - Southern Missouri typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cassville, Missouri business owner got a $600,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Freedom Bank - Southern Missouri, out of Cassville, Missouri. The loan was granted and they received $600,000 to help grow their Cassville, Missouri business.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND ATHLETIC GOODS MANUFACTURING
CASSVILLE, MO 65625

SBA Loan Lender

FREEDOM BANK - SOUTHERN MISSOURI
97 S MAIN
CASSVILLE, MO 65625

This business 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.

NAICS Code

339920 - Sporting and Athletic Goods Manufacturing

Loan Approval Date

12/5/2005

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 50 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Business Credit Evaluation

Small Business Banks in Cassville, Missouri

SBA Missouri Lenders