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December 4, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Neosho, Business Loans > Community Bank & Trust Neosho Business Loans > Drug Stores And Proprietary Stores Loan | ||||
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Community Bank & Trust
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Business Loan from Community Bank & Trust Given to Drug Stores And Proprietary Stores CompanyCommunity Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Neosho, Missouri, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Community Bank & Trust, based in Neosho, Missouri. SBA Loan Borrower COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES SBA Loan Lender COMMUNITY BANK & TRUST This lender issued this commercial loan under the SBA's 7A loan, 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 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 10/29/2003 Loan Approval Gross Amount $505,000 Loan Approval from the SBA Of the total $505,000 loan amount, the SBA guaranteed $378,750. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Bank & Trust and they will explain how you can get an SBA loan for your company. 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: Best Banks for Small Business in Neosho, Missouri Getting an SBA Loan in Missouri
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