Community Bank & Trust SBA Loan to Beauty Salons Company

An SBA loan from Community Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Joplin, Missouri business owner got a $25,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Community Bank & Trust, out of Joplin, Missouri. The loan was granted and they received $25,000 to help grow their Joplin, Missouri business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
JOPLIN, MO 64804

SBA Loan Lender

COMMUNITY BANK & TRUST
414 EAST 32ND ST
JOPLIN, MO 64804

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/5/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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