Bank Of Sullivan SBA Loan to Limited-Service Restaurants Company

An SBA loan from Bank Of Sullivan typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Owensville, Missouri business owner got a $550,000 loan.

Getting a small business loan in Owensville, Missouri was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Sullivan, operating out of Sullivan, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
OWENSVILLE, MO 65066

SBA Loan Lender

BANK OF SULLIVAN
318 W MAIN ST
SULLIVAN, MO 63080

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/2/2007

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 4 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of Sullivan had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of Sullivan made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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