SBA Loan from Commerce Bank Helps Painting And Paper Hanging Company

Commerce Bank has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them.

Getting a small business loan in Lee's Summit, Missouri was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Kansas City, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND PAPER HANGING
LEE'S SUMMIT, MO 64082

SBA Loan Lender

COMMERCE BANK
1000 WALNUT ST
KANSAS CITY, MO 64141

This debt financing 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

1721 - Painting and Paper Hanging

NAICS Code

235210 - Painting and Wall Covering

Loan Approval Date

6/14/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Lee's Summit MO, you ought to talk with a local Lee's Summit SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lee's Summit 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:

Bank Credit Lines

Good Banks for Small Business in Kansas City, Missouri

Missouri SBA Bank Lenders