SBA Loan from Bancorpsouth Bank Helps Motor Vehicle Supplies And New Parts Company
Bancorpsouth Bank 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 Missouri entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Reed Springs, Missouri was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bancorpsouth Bank, operating out of Springfield, Missouri. Here are the details on this Missouri small business loan.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
REED SPRINGS, MO 65737
SBA Loan Lender
BANCORPSOUTH BANK
4039 S KANSAS EXPRESSWAY
SPRINGFIELD, MO 65807
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5013 - Motor Vehicle Supplies and New Parts
NAICS Code
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
9/6/2002
Loan Approval Gross Amount
$95,000
Loan Approval from the SBA
Of the total $95,000 loan amount, the SBA guaranteed $80,750.
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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $95,000 loan. Remember, you control your own destiny.
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:
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SBA Participating Banks in Springfield, Missouri
SBA Missouri Lenders