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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Village Bank Springfield Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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Raising Money in Springfield, Missouri With SBA Loans
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Borrowing Money for Automotive Parts and Accessories StoresWith these loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $55,000 was given to a Missouri entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springfield, Missouri was able to borrow $55,000 from Village Bank. The SBA made the loan possible by guaranteeing $46,750 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender VILLAGE 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 5013 - Motor Vehicle Supplies and New Parts NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 12/10/2002 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Village Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: A Company That Helps Entrepreneurs Who Lends Money to Small Businesses in Springfield, Missouri
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