Huntsville, Missouri Entrepreneur Gets a Small Business Loan

Bank loans in Missouri are tough to come by these days. We take a look at one Missouri bank loan, provided by a Missouri bank, that was approved by the SBA.

Getting a small business loan in Huntsville, Missouri was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from City Bank & Trust - Moberly. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
HUNTSVILLE, MO 65259

SBA Loan Lender

CITY BANK & TRUST - MOBERLY
500 WEST COATES
MOBERLY, MO 65270

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

10/18/2001

Loan Approval Gross Amount

$93,600

Loan Approval from the SBA

Of the total $93,600 loan amount, the SBA guaranteed $79,560.

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 5 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to borrow money from friends and family, 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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