Springfield, Missouri Business Gets SBA-Guaranteed Funding from Bancorpsouth Bank

An SBA loan from Bancorpsouth 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 $150,000 loan.

This small firm 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 Bancorpsouth Bank, based in Springfield, Missouri.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SPRINGFIELD, MO 65804

SBA Loan Lender

BANCORPSOUTH BANK
3939 S FREMONT
SPRINGFIELD, MO 65804

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bancorpsouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bancorpsouth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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