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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Solvang, Business Loans > Los Padres Bank Solvang Business Loans > Snack And Nonalcoholic Beverage Bars Loan | ||||
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Raising Money in Grandview, Missouri With SBA Loans
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How to Get a Loan for Snack and Nonalcoholic Beverage BarsWith these business loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $58,000 was given to a Missouri entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grandview, Missouri was able to borrow $58,000 from Los Padres Bank. The SBA made the loan possible by guaranteeing $29,000 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS SBA Loan Lender LOS PADRES BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 12/2/2005 Loan Approval Gross Amount $58,000 Loan Approval from the SBA Of the total $58,000 loan amount, the SBA guaranteed $29,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 3 new jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA Approved Banks in Solvang, California
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