SBA Loan from First Home Savings Bank Helps Accounting, Auditing, And Bookkeeping Services Company

An SBA loan from First Home Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mountain Grove, Missouri business owner got a $51,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Home Savings Bank, out of Mountain Grove, Missouri. The loan was granted and they received $51,000 to help grow their Mountain Grove, Missouri business.

SBA Loan Borrower

COMPANY TYPE: ACCOUNTING, AUDITING, AND BOOKKEEPING SERVICES
MOUNTAIN GROVE, MO 65711

SBA Loan Lender

FIRST HOME SAVINGS BANK
142 E 1ST ST
MOUNTAIN GROVE, MO 65711

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

8721 - Accounting, Auditing, and Bookkeeping Services

NAICS Code

541219 - Accounting Services

Loan Approval Date

12/9/2003

Loan Approval Gross Amount

$51,000

Loan Approval from the SBA

Of the total $51,000 loan amount, the SBA guaranteed $43,350.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $51,000 loan. Remember, you control your own destiny.

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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