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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Empire Bank Springfield Business Loans > Forestry Services Loan | ||||
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Springfield Bank Loan
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Springfield, Missouri Bank Gives SBA Loan to Forestry Services CompanyWant to talk with a Springfield, Missouri bank about a small business loan? Here's one Missouri business loan, issued by a Springfield bank, that was approved by the SBA. Applying for an SBA loan with Empire Bank worked out well for our friends at one local company in Nixa, Missouri. They received an SBA loan for $148,000. Way to go! SBA Loan Borrower COMPANY TYPE: FORESTRY SERVICES SBA Loan Lender EMPIRE BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0851 - Forestry Services NAICS Code 115310 - Support Activities for Forestry Loan Approval Date 5/11/2004 Loan Approval Gross Amount $148,000 Loan Approval from the SBA Of the total $148,000 loan amount, the SBA guaranteed $125,800. 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 9 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Empire Bank 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: Who Lends Money to Small Businesses in Springfield, Missouri
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