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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Jefferson City, Business Loans > Exch National Bank - Jefferson City Jefferson City Business Loans > Child Day Care Services Loan | ||||
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Missouri SBA Lenders
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Entrepreneur Works With Jefferson City, Missouri Bank to Get an SBA LoanA Jefferson City, Missouri small business loan can be yours. Learn how a business got a $70,400 business loan from this Missouri bank. This loan to a local firm is a good example of an SBA loan. Exch National Bank - Jefferson City made the loan and the SBA guaranteed a portion of the loan. Many other Missouri entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender EXCH NATIONAL BANK - JEFFERSON CITY This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 8/16/2000 Loan Approval Gross Amount $70,400 Loan Approval from the SBA Of the total $70,400 loan amount, the SBA guaranteed $35,200. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. 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. 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: Find an SBA Lender in Jefferson City, Missouri
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