Commercial Loans for Food Service Contractors

With these commercial loans for food service contractors, the SBA guarantees the lender that the loan will be repaid. This food service contractors loan for $20,200 was given to a Missouri entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Rogersville, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Countryside Bank, based in Republic, Missouri.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
ROGERSVILLE, MO 65742

SBA Loan Lender

COUNTRYSIDE BANK
520 E ELM ST
REPUBLIC, MO 65738

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722310 - Food Service Contractors

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$20,200

Loan Approval from the SBA

Of the total $20,200 loan amount, the SBA guaranteed $16,160.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 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.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

Role of Business Plan When Raising Money

Who Lends Money to Small Businesses in Republic, Missouri

Where to Get an SBA Loan Missouri