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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Hamilton, Business Loans > Bank Northwest Hamilton Business Loans > Wood Products Loan | ||||
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Get an SBA 7A Loan in St. Joseph, Missouri
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Bank Northwest Gives Business Loan to Wood Products CompanyMissouriSBA loans are available to Missouri entrepreneurs through the SBA. In this case, a Missouri bank provides the loan. By giving the right information to Bank Northwest, this St. Joseph, Missouri business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: WOOD PRODUCTS SBA Loan Lender BANK NORTHWEST 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 2499 - Wood Products Loan Approval Date 4/24/2000 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $26,400. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Northwest so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - How to Borrow Money SBA 7A Banks in Hamilton, Missouri
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