Local Business Gets a Missouri Bank Loan

Business loans in Missouri are are few and far betweeen these days. We take a look at one Missouri business loan, provided by a Missouri bank, that was approved by the SBA.

You can learn something about getting a small business loan in Osage Beach, Missouri by studying this loan to a local business, made back in 2002. Banks like Central Bank - Lake - Ozarks may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PET AND PET SUPPLIES STORES
OSAGE BEACH, MO 65065

SBA Loan Lender

CENTRAL BANK - LAKE - OZARKS
3848 HWY 54
OSAGE BEACH, MO 65065

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $99,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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