Empire Bank Provides SBA Loan to Buy Other Mothers Franchise

Need a loan to invest in an Other Mothers franchise? Empire Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Springfield, Missouri and are interested in buying an Other Mothers franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Empire Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ONCE AND AGAIN
SPRINGFIELD, MO 65807

SBA Loan Lender

EMPIRE BANK
1800 S GLENSTONE
SPRINGFIELD, MO 65804

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

Loan Approval Date

4/20/2000

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $49,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Other Mothers franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Springfield, Missouri

Missouri SBA 7A Lenders