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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > New Madrid, Business Loans > Bank Of New Madrid New Madrid Business Loans > General Automotive Repair Loan | ||||
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SBA Lenders in Missouri
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Marston, Missouri Business Gets SBA-Guaranteed Funding from Bank Of New MadridAn SBA loan from Bank Of New Madrid typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Marston, Missouri business owner got a $135,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marston, Missouri was able to borrow $135,000 from Bank Of New Madrid. The SBA made the loan possible by guaranteeing $114,750 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender BANK OF NEW MADRID This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 2/12/2004 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $135,000. How would you spend $135,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 New Madrid, Missouri
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