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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Saint Joseph, Business Loans > Pony Express Community Bank Saint Joseph Business Loans > Direct Selling Establishments Loan | ||||
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SBA Lender St. Joseph
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SBA Loan from Pony Express Community Bank Helps Direct Selling Establishments CompanyPony Express Community Bank has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in St. Joseph, Missouri, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Pony Express Community Bank, based in Saint Joseph, Missouri. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender PONY EXPRESS COMMUNITY 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. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 8/15/2002 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Where to Get an SBA Loan in Saint Joseph, Missouri
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