Licking, Missouri Business Gets SBA-Guaranteed Funding from First National Bank

First National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Licking, Missouri was able to borrow $27,000 from First National Bank. The SBA made the loan possible by guaranteeing $22,950 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
LICKING, MO 65555

SBA Loan Lender

FIRST NATIONAL BANK
105 W 6TH ST
MOUNTAIN VIEW, MO 65548

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

9/18/2002

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $22,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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