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November 14, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > Grocery Stores Loan | ||||
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Commerce Bank
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SBA Loan from Commerce Bank Helps Grocery Stores CompanyAn SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Reeds Spring, Missouri business owner got a $249,300 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Reeds Spring, Missouri was able to borrow $249,300 from Commerce Bank. The SBA made the loan possible by guaranteeing $186,975 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender COMMERCE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 2/17/2000 Loan Approval Gross Amount $249,300 Loan Approval from the SBA Of the total $249,300 loan amount, the SBA guaranteed $186,975. 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 SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: How Much Venture Capital Is There? SBA 7A Banks for Kansas City, Missouri Loans
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