SBA Loan from Countryside Bank Helps Construction Materials Company

An SBA loan from Countryside Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Republic, Missouri business owner got a $65,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Republic, Missouri was able to borrow $65,000 from Countryside Bank. The SBA made the loan possible by guaranteeing $55,250 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MATERIALS
REPUBLIC, MO 65738

SBA Loan Lender

COUNTRYSIDE BANK
520 E ELM ST
REPUBLIC, MO 65738

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5039 - Construction Materials

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

11/7/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 8 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Financing Your Business

Who Lends Money to Small Businesses in Republic, Missouri

SBA Lenders in Missouri