Missouri Bank & Trust Co. SBA Loan to Furniture Stores Company

Missouri Bank & Trust Co. 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 Kansas entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Overland Park, Kansas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Missouri Bank & Trust Co., based in Kansas City, Missouri.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
OVERLAND PARK, KS 66204

SBA Loan Lender

MISSOURI BANK & TRUST CO.
1044 MAIN ST
KANSAS CITY, MO 64105

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

Loan Approval Date

5/22/2000

Loan Approval Gross Amount

$60,500

Loan Approval from the SBA

Of the total $60,500 loan amount, the SBA guaranteed $48,400.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Missouri Bank & Trust Co. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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SBA 7A Banks for Kansas City, Missouri Loans

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