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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > Fletcher & Daughters Inc Loan | ||||
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Best Banks for Fenton Small Businesses
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Fenton, MO Entrepreneur Gets SBA Loan to Buy Cartridge World Stores FranchiseBorrowing money to purchase a Cartridge World Stores franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Fenton, Missouri and are interested in buying a Cartridge World Stores franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower FLETCHER & DAUGHTERS INC SBA Loan Lender COMMERCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811212 - Computer and Office Machine Repair and Maintenance Loan Approval Date 5/6/2005 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cartridge World Stores franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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: Dealing With Venture Capitalists SBA 7A Lenders in Kansas City, Missouri
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