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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Seymour, Business Loans > The Seymour Bank Seymour Business Loans > Water Well Drilling Loan | ||||
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SBA Loan from The Seymour Bank
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SBA Loan from The Seymour Bank Helps Water Well Drilling CompanyThe Seymour Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Missouri entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mansfield, Missouri was able to borrow $135,000 from The Seymour Bank. The SBA made the loan possible by guaranteeing $114,750 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: WATER WELL DRILLING SBA Loan Lender THE SEYMOUR BANK This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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 1781 - Water Well Drilling NAICS Code 237110 - Water and Sewer Line and Related Structures Construction Loan Approval Date 7/6/2005 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 3 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Small Bank Loans in Seymour, Missouri
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