Lake St. Louis, MO Entrepreneur Gets SBA Loan to Buy UPS Store Franchise

Need a loan to invest in an UPS Store franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

UPS Store franchise loans are available to Lake St. Louis, Missouri entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Kansas City, Missouri, issued an SBA franchise loan for an UPS Store franchise in 2005. We've got all the details on this Missouri small business loan.

SBA Loan Borrower

THE UPS STORE
LAKE ST. LOUIS, MO 63367

SBA Loan Lender

COMMERCE BANK
1000 WALNUT ST
KANSAS CITY, MO 64141

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.

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

9/28/2005

Loan Approval Gross Amount

$148,500

Loan Approval from the SBA

Of the total $148,500 loan amount, the SBA guaranteed $74,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job.

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:

Getting a Small Business Loan

SBA 7A Banks in Kansas City, Missouri

Missouri SBA Banks