SBA Loan from Empire Bank Helps Eating Places Company
Empire Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Empire Bank, out of Springfield, Missouri. The loan was granted and they received $52,000 to help grow their Springfield, Missouri business.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
SPRINGFIELD, MO 65807
SBA Loan Lender
EMPIRE BANK
1800 S GLENSTONE
SPRINGFIELD, MO 65804
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.
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
12/11/2001
Loan Approval Gross Amount
$52,000
Loan Approval from the SBA
Of the total $52,000 loan amount, the SBA guaranteed $44,200.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 20 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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.
Related Links:
Borrowing Money from Friends and Family
Find an SBA Lender in Springfield, Missouri
Where to Get an SBA Loan Missouri