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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Marshfield, Business Loans > Southern Missouri Bank - Marshfi Marshfield Business Loans > Legal Services Loan | ||||
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SBA Lenders Missouri
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Marshfield, Missouri Bank Gives SBA Loan to Legal Services CompanyWant to talk with a Marshfield, Missouri bank about an SBA loan? Here's one Missouri business loan, issued by a Marshfield bank, that was approved by the SBA. Applying for an SBA loan with Southern Missouri Bank - Marshfi worked out well for our friends at one local business in Springfield, Missouri. They got an SBA loan for $30,000. Nice! SBA Loan Borrower COMPANY TYPE: LEGAL SERVICES SBA Loan Lender SOUTHERN MISSOURI BANK - MARSHFI This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8111 - Legal Services NAICS Code 541110 - Lawyers Loan Approval Date 6/12/2002 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies Good Banks for Small Business in Marshfield, Missouri
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