Springfield, MO Entrepreneur Gets SBA Loan to Buy Allstate Insurance Franchise

Need a loan to invest in an Allstate Insurance franchise? Mid-Missouri Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Allstate Insurance franchise may simply require a phone call to a local SBA banker. In 2004, Mid-Missouri Bank issued an SBA franchise loan to an entrepreneur in Springfield, Missouri. Because Allstate Insurance was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

THE STAGNER AGENCY
SPRINGFIELD, MO 65804

SBA Loan Lender

MID-MISSOURI BANK
330 W PLAINVIEW, STE K
SPRINGFIELD, MO 65810

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

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$133,000

Loan Approval from the SBA

Of the total $133,000 loan amount, the SBA guaranteed $113,050.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Allstate Insurance franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Mid-Missouri 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:

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