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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 > The Central Trust Bank Jefferson City Business Loans > Kidzart Loan | ||||
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How to Get SBA Loans in Jefferson City, Missouri
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Missouri Entrepreneur Secures Financing to Buy Kidzart FranchiseNeed money to buy a Kidzart franchise? The Central Trust Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Kidzart franchise? If so, here's a 2003 SBA franchise loan that you should know about. The Central Trust Bank was the lender and the entrepreneur was based in Jefferson City, Missouri. SBA Loan Borrower KIDZART SBA Loan Lender THE CENTRAL TRUST BANK This lender issued this particular bank 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 711510 - Independent Artists, Writers, and Performers Loan Approval Date 10/17/2003 Loan Approval Gross Amount $18,000 Loan Approval from the SBA Of the total $18,000 loan amount, the SBA guaranteed $15,300. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Kidzart franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Jefferson City, Missouri Loans
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