Business Loan from First Midwest Bank - Poplar Bluf Given to Fitness And Recreational Sports Centers Company

An SBA loan from First Midwest Bank - Poplar Bluf typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Greenville, Missouri business owner got a $92,500 loan.

This small firm knew how to go about getting a business bank loan. Based in Greenville, Missouri, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First Midwest Bank - Poplar Bluf, based in Poplar Bluff, Missouri.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
GREENVILLE, MO 63964

SBA Loan Lender

FIRST MIDWEST BANK - POPLAR BLUF
333 S WESTWOOD BLVD
POPLAR BLUFF, MO 63901

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

6/5/2003

Loan Approval Gross Amount

$92,500

Loan Approval from the SBA

Of the total $92,500 loan amount, the SBA guaranteed $78,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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