SBA Loan from Community Bank & Trust Helps Floor Covering Stores 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 $500,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Joplin, Missouri, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Community Bank & Trust, based in Neosho, Missouri.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
JOPLIN, MO 64804

SBA Loan Lender

COMMUNITY BANK & TRUST
100 S WOOD ST
NEOSHO, MO 64850

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

3/29/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, things become real when you believe you can achieve them!

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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