Local Business Gets a Missouri Small Business Loan

MissouriBusiness loans are available to Missouri business owners through the SBA. In this case, a Nebraska bank provides the loan.

Getting a small business loan in Mound City, Missouri was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Richardson Cnty Bank & Trust. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE PRODUCTS
MOUND CITY, MO 64470

SBA Loan Lender

RICHARDSON CNTY BANK & TRUST
1616 HARLAN ST
FALLS CITY, NE 68355

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

3272 - Concrete Products

NAICS Code

327999 - Nonmetallic Mineral Product Manufacturing

Loan Approval Date

3/16/2007

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

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. This SBA loan request 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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Richardson Cnty Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Equity Financing

SBA 7A Banks in Falls City, Nebraska

Browse All Business Loan Sources for Nebraska