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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Bancorpsouth Bank Springfield Business Loans > Schools And Educational Services Loan | ||||
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Bancorpsouth Bank
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Bancorpsouth Bank SBA Loan to Schools And Educational Services CompanyBancorpsouth Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Missouri entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bancorpsouth Bank, out of Springfield, Missouri. The loan was granted and they received $41,400 to help grow their Springfield, Missouri business. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES SBA Loan Lender BANCORPSOUTH BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8299 - Schools and Educational Services NAICS Code 611691 - Exam Preparation and Tutoring Loan Approval Date 2/6/2004 Loan Approval Gross Amount $41,400 Loan Approval from the SBA Of the total $41,400 loan amount, the SBA guaranteed $35,190. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bancorpsouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bancorpsouth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 SBA 7A Banks in Springfield, Missouri
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