Sikeston, Missouri Bank Gives SBA Loan to Confectionery And Nut Stores Company

A Sikeston, Missouri small business loan can be yours. Learn how a company got a $50,345 business loan from this Missouri bank.

This loan to a local firm is a good example of an SBA loan. Montgomery Bank made the loan and the SBA guaranteed a portion of the loan. Many other Missouri entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY AND NUT STORES
ST. ANN, MO 63123

SBA Loan Lender

MONTGOMERY BANK
1 MONTGOMERY BANK PLZ
SIKESTON, MO 63801

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

7/19/2004

Loan Approval Gross Amount

$50,345

Loan Approval from the SBA

Of the total $50,345 loan amount, the SBA guaranteed $25,172.

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 7 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 11 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Sikeston, Missouri

SBA Missouri Lenders