Missouri SBA Loan Issued to Eating Places Company

Looking to get a Missouri business loan? This Missouri entrepreneur got a business loan, provided by a Missouri bank that works with the SBA to help small business owners.

This small business, based in Springfield, Missouri, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Village Bank. We've got the inside scoop on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SPRINGFIELD, MO 65810

SBA Loan Lender

VILLAGE BANK
2360 E SUNSHINE
SPRINGFIELD, MO 65804

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/10/2001

Loan Approval Gross Amount

$25,500

Loan Approval from the SBA

Of the total $25,500 loan amount, the SBA guaranteed $21,675.

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 25 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Springfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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