East Prairie, Missouri Business Gets SBA-Guaranteed Funding from Focus Bank

Focus Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in East Prairie, Missouri, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Focus Bank, based in East Prairie, Missouri.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EAST PRAIRIE, MO 63845

SBA Loan Lender

FOCUS BANK
HWY 105
EAST PRAIRIE, MO 63845

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/14/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Realistic Debt Financing Options

SBA Participating Banks in East Prairie, Missouri

Missouri SBA 7A Lenders