SBA Loan from First National Bank Helps Gaskets, Packing, And Sealing Devices Company

An SBA loan from First National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Linn Creek, Missouri business owner got a $80,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Linn Creek, Missouri, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First National Bank, based in Camdenton, Missouri.

SBA Loan Borrower

COMPANY TYPE: GASKETS, PACKING, AND SEALING DEVICES
LINN CREEK, MO 65052

SBA Loan Lender

FIRST NATIONAL BANK
117 N STATE HWY 5
CAMDENTON, MO 65020

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3053 - Gaskets, Packing, and Sealing Devices

NAICS Code

339991 - Gasket, Packing, and Sealing Device Manufacturing

Loan Approval Date

3/27/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $80,000 loan. Remember, if it to be, it is up to me!

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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