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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Village Bank Springfield Business Loans > Electrical Machinery, Equipment, And Supplies Loan | ||||
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Missouri Bank SBA Loans
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Village Bank SBA Loan to Electrical Machinery, Equipment, And Supplies CompanyWant a Missouri small business loan? Here's one Missouri business loan that was approved by the SBA. This local small business knew how to go about getting a business bank loan. Based in Ozark, Missouri, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Village Bank, based in Springfield, Missouri. SBA Loan Borrower COMPANY TYPE: ELECTRICAL MACHINERY, EQUIPMENT, AND SUPPLIES SBA Loan Lender VILLAGE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3699 - Electrical Machinery, Equipment, and Supplies Loan Approval Date 9/12/2000 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $76,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 - How to Decide How Much to Raise Who Lends Money to Small Businesses in Springfield, Missouri
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