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November 14, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Empire Bank Springfield Business Loans > Legal Services Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Raising Money for LawyersLooking for business loans for lawyers? An SBA loan may be just what you've been looking for. This $75,000 lawyers loan was issued by a Missouri bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springfield, Missouri was able to borrow $75,000 from Empire Bank. The SBA made the loan possible by guaranteeing $63,750 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: LEGAL SERVICES SBA Loan Lender EMPIRE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 4/5/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 37 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Empire 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: Banks in Springfield, Missouri
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