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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Liberty Bank Springfield Business Loans > Iron And Steel Forging Loan | ||||
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Liberty Bank
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SBA Loan from Liberty Bank Helps Iron And Steel Forging CompanyAn SBA loan from Liberty Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stockton, Missouri business owner got a $275,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stockton, Missouri was able to borrow $275,000 from Liberty Bank. The SBA made the loan possible by guaranteeing $206,250 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: IRON AND STEEL FORGING SBA Loan Lender LIBERTY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332111 - Iron and Steel Forging Loan Approval Date 6/14/2005 Loan Approval Gross Amount $275,000 Loan Approval from the SBA Of the total $275,000 loan amount, the SBA guaranteed $206,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Liberty Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in Springfield, Missouri Find an SBA Lender in Missouri
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