Missouri Business Loan Issued to Plumbing, Heating, And Air-Conditioning Company
Would a Missouri small business loan help your small business to grow and prosper? If so, you may want to talk with this Missouri bank, which offers SBA loans to Missouri entrepreneurs.
You can learn something about getting a small business loan in Springfield, Missouri by studying this loan to a local company, made back in 2005. Banks like Commerce Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING
SPRINGFIELD, MO 65803
SBA Loan Lender
COMMERCE BANK
1000 WALNUT ST
KANSAS CITY, MO 64141
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1711 - Plumbing, Heating, and Air-Conditioning
NAICS Code
238220 - Plumbing, Heating, and Air-Conditioning Contractors
Loan Approval Date
5/6/2005
Loan Approval Gross Amount
$500,000
Loan Approval from the SBA
Of the total $500,000 loan amount, the SBA guaranteed $375,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 55 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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.
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