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December 19, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Overland Park, Business Loans > Bank Of Blue Valley Overland Park Business Loans > Mr Goodcents Loan | ||||
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Raising Money in Kansas, Missouri With SBA Loans
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Kansas, MO Entrepreneur Gets SBA Loan to Buy Mr. Goodcents Sub' And Pasta FranchiseBorrowing money to invest in a Mr. Goodcents Sub' And Pasta franchise? Bank Of Blue Valley has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Kansas, Missouri needed money to invest in a Mr. Goodcents Sub' And Pasta franchise back in 2002. Bank Of Blue Valley issued an SBA franchise loan. Here are the details on this Missouri small business loan. SBA Loan Borrower MR GOODCENTS SBA Loan Lender BANK OF BLUE VALLEY This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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 722211 - Limited-Service Restaurants Loan Approval Date 3/19/2002 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Mr. Goodcents Sub' And Pasta franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 - Getting Venture Capital SBA 7A Banks in Overland Park, Kansas
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