Business Loan from Bancorpsouth Bank Given to Children's And Infants' Wear Stores Company
Bancorpsouth 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.
This small firm knew how to go about getting a business bank loan. Based in Nixa, Missouri, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bancorpsouth Bank, based in Springfield, Missouri.
SBA Loan Borrower
COMPANY TYPE: CHILDREN'S AND INFANTS' WEAR STORES
NIXA, MO 65714
SBA Loan Lender
BANCORPSOUTH BANK
4039 S KANSAS EXPRESSWAY
SPRINGFIELD, MO 65807
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5641 - Children's and Infants' Wear Stores
NAICS Code
448130 - Children's and Infants' Clothing Stores
Loan Approval Date
3/14/2002
Loan Approval Gross Amount
$89,500
Loan Approval from the SBA
Of the total $89,500 loan amount, the SBA guaranteed $76,075.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
Every year, the SBA guarantees over $10 billion for loans just like this one.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bancorpsouth Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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