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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 > Service Establishment Equipment And Supplies Loan | ||||
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Missouri Bank SBA Loans
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Springfield, Missouri Lender Lends Money to Service Establishment Equipment And Supplies CompanyGet to know Springfield, Missouri banks that specialize in SBA loans and know how to work with entrepreneurs. Bancorpsouth Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Springfield, Missouri starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bancorpsouth Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES SBA Loan Lender BANCORPSOUTH 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 5087 - Service Establishment Equipment and Supplies NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 4/18/2001 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: SBA 7A Lenders in Springfield, Missouri
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