Springfield, Missouri Business Gets SBA-Guaranteed Funding from Commerce Bank
An SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Springfield, Missouri business owner got a $225,000 loan.
This business knew how to go about getting a business bank loan. Based in Springfield, Missouri, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank, based in Kansas City, Missouri.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
SPRINGFIELD, MO 65803
SBA Loan Lender
COMMERCE BANK
1000 WALNUT ST
KANSAS CITY, MO 64141
This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.
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
8/9/2001
Loan Approval Gross Amount
$225,000
Loan Approval from the SBA
Of the total $225,000 loan amount, the SBA guaranteed $168,750.
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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
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:
How Equity Dilution Works
Good Banks for Small Business in Kansas City, Missouri
SBA Participating Banks in Missouri