Commercial Loans for Power-Driven Handtool Manufacturing

Looking for commercial loans for power-driven handtool manufacturing? Talk to a banker who works with the SBA. This $746,000 power-driven handtool manufacturing loan was issued by a Missouri bank.

Getting a small business loan in Grandview, Missouri was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Lee's Summit, operating out of Lee's Summit, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: POWER-DRIVEN HANDTOOLS
GRANDVIEW, MO 64030

SBA Loan Lender

BANK OF LEE'S SUMMIT
210 S MAIN
LEE'S SUMMIT, MO 64063

This SBA 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

3546 - Power-Driven Handtools

NAICS Code

333991 - Power-Driven Handtool Manufacturing

Loan Approval Date

3/1/2004

Loan Approval Gross Amount

$746,000

Loan Approval from the SBA

Of the total $746,000 loan amount, the SBA guaranteed $559,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Bank Of Lee's Summit 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:

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SBA 7A Banks in Lee's Summit, Missouri

SBA Missouri Banks