Business Loan from Umb Bank Given to Electrical Work Company
Umb Bank 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.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Kansas City, Missouri was able to borrow $1,000,000 from Umb Bank. The SBA made the loan possible by guaranteeing $750,000 of this Missouri small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL WORK
NORTH KANSAS CITY, MO 64116
SBA Loan Lender
UMB BANK
1010 GRAND BLVD
KANSAS CITY, MO 64106
This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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
1731 - Electrical Work
NAICS Code
235310 - Electrical Contractors
Loan Approval Date
7/12/2005
Loan Approval Gross Amount
$1,000,000
Loan Approval from the SBA
Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.
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 25 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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 Umb Bank 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:
Obtaining Funding From a Venture Capitalist
SBA 7A Banks for Kansas City, Missouri Loans
Getting an SBA Loan in Missouri