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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Bowling Green, Business Loans > Cbc Bank Bowling Green Business Loans > Eating Places Loan | ||||
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What Does It Take to Get a Business Loan in O'Fallon, Missouri?
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Small Business Loans for Full-Service RestaurantsWith these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $225,000 was given to a Missouri entrepreneur in 2002. Getting a small business loan in O'Fallon, Missouri was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Cbc Bank, operating out of Bowling Green, Missouri. Here are the details on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CBC BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/5/2002 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. 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 documents did not indicate that the company planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Cbc 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: Best Banks for Small Business in Bowling Green, Missouri
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