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November 23, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Mid-Missouri Bank Springfield Business Loans > Hotels And Motels Loan | ||||
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MO SBA Loans from Mid-Missouri Bank
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Springfield, Missouri Business Gets SBA-Guaranteed Funding from Mid-Missouri BankAn SBA loan from Mid-Missouri 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 $707,000 loan. Getting a small business loan in Springfield, Missouri was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Mid-Missouri Bank, operating out of Springfield, Missouri. Here are the details on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender MID-MISSOURI BANK 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 American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 5/31/2007 Loan Approval Gross Amount $707,000 Loan Approval from the SBA Of the total $707,000 loan amount, the SBA guaranteed $530,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mid-Missouri Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mid-Missouri 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: Small Business Banks in Springfield, Missouri SBA Participating Banks in Missouri
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