Local Business Gets a Missouri SBA Loan

Would a Missouri business loan help your company expand? If so, you may want to talk with this Missouri bank, which offers SBA loans to Missouri entrepreneurs.

Getting a small business loan in Reeds Spring, Missouri was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Peoples Bank Of The Ozarks. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: MENTAL HEALTH PRACTITIONERS
REEDS SPRING, MO 65737

SBA Loan Lender

PEOPLES BANK OF THE OZARKS
11892 STATE HWY 13
KIMBERLING CITY, MO 65686

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.

NAICS Code

621330 - Mental Health Practitioners

Loan Approval Date

10/22/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples Bank Of The Ozarks and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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