Herculaneum, MO Entrepreneur Gets SBA Loan to Buy Line-X Franchise

Borrowing money to purchase a Line-X franchise? Eagle Bank & Trust - Missouri has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Line-X franchise? If so, here's a 2004 SBA franchise loan that you should know about. Eagle Bank & Trust - Missouri was the lender and the entrepreneur was based in Herculaneum, Missouri.

SBA Loan Borrower

LINE-X (LINE-X OF JEFFERSON CO
HERCULANEUM, MO 63048

SBA Loan Lender

EAGLE BANK & TRUST - MISSOURI
1344 JEFFCO BLVD
ARNOLD, MO 63010

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$68,000

Loan Approval from the SBA

Of the total $68,000 loan amount, the SBA guaranteed $57,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Line-X franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Eagle Bank & Trust - Missouri 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.

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