Palmyra, Missouri Entrepreneur Gets a Small Business Loan

MissouriSmall business loans are available to Missouri small business owners through the SBA. In this case, a Missouri bank provides the loan.

You can learn something about getting a small business loan in Palmyra, Missouri by studying this loan to a local company, made back in 2001. Banks like F&m Bank And Trust Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LAMINATED PLASTICS PLATE, SHEET, AND PROFILE SHAPE
PALMYRA, MO 63461

SBA Loan Lender

F&M BANK AND TRUST COMPANY
505 BROADWAY
HANNIBAL, MO 63401

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

SIC Code

3083 - Laminated Plastics Plate, Sheet, and Profile Shape

NAICS Code

326130 - Laminated Plastics Plate, Sheet, and Shape Manufacturing

Loan Approval Date

5/31/2001

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business promised to use the money to add 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.

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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