Entrepreneur Works With Springfield, Missouri Bank to Get an SBA Loan
Want to talk with a Springfield, Missouri bank about a small business loan? Here's one Missouri business loan, issued by a Springfield bank, that was approved by the SBA.
Applying for an SBA loan with Old Missouri National Bank worked out well for our friends at one local firm in Springfield, Missouri. They received an SBA loan for $228,000. Nice!
SBA Loan Borrower
COMPANY TYPE: GENERAL MERCHANDISE STORES
SPRINGFIELD, MO 65802
SBA Loan Lender
OLD MISSOURI NATIONAL BANK
3570 S NATIONAL
SPRINGFIELD, MO 65807
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 SBA small business 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
5399 - General Merchandise Stores
NAICS Code
452990 - General Merchandise Stores
Loan Approval Date
6/5/2002
Loan Approval Gross Amount
$228,000
Loan Approval from the SBA
Of the total $228,000 loan amount, the SBA guaranteed $171,000.
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 5 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Old Missouri National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
The Art of Bootstrapping
Where to Get an SBA Loan in Springfield, Missouri
SBA Missouri Lenders