Springfield, Missouri Entrepreneur Gets a Small Business Loan

MissouriSBA loans are available to Missouri entrepreneurs through the SBA. In this case, a Missouri bank provides the loan.

You can learn something about getting a small business loan in Springfield, Missouri by studying this loan to a local business, made back in 2000. Banks like Bancorpsouth Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS
SPRINGFIELD, MO 65804

SBA Loan Lender

BANCORPSOUTH BANK
3939 S FREMONT
SPRINGFIELD, MO 65804

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$234,800

Loan Approval from the SBA

Of the total $234,800 loan amount, the SBA guaranteed $176,100.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

Related Links:

The Art of Bootstrapping

SBA Approved Banks in Springfield, Missouri

SBA Missouri Lenders