Get an SBA Loan for Industrial Machinery and Equipment Merchant Wholesalers

Looking for loans for industrial machinery and equipment merchant wholesalers? The SBA may be the answer. This $42,500 industrial machinery and equipment merchant wholesalers loan was issued by a Missouri bank.

Getting a small business loan in Seneca, Missouri was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Hometown Bank, operating out of Carthage, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
SENECA, MO 64865

SBA Loan Lender

HOMETOWN BANK
312 W CENTRAL
CARTHAGE, MO 64836

This lender issued this particular bank loan 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.

SIC Code

5084 - Industrial Machinery and Equipment

NAICS Code

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

4/18/2003

Loan Approval Gross Amount

$42,500

Loan Approval from the SBA

Of the total $42,500 loan amount, the SBA guaranteed $36,125.

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 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Seneca MO, you ought to talk with a local Seneca SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Seneca businesses.

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:

Business Credit Evaluation

Find an SBA Lender in Carthage, Missouri

Getting an SBA Loan in Missouri