Iron Foundries SBA Loans

With these SBA loans for iron foundries, the SBA guarantees the lender that the loan will be repaid. This iron foundries loan for $30,000 was given to a Missouri entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Stockton, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Liberty Bank, based in Springfield, Missouri.

SBA Loan Borrower

COMPANY TYPE: MALLEABLE IRON FOUNDRIES
STOCKTON, MO 65785

SBA Loan Lender

LIBERTY BANK
1414 E PRIMROSE
SPRINGFIELD, MO 65804

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3322 - Malleable Iron Foundries

NAICS Code

331511 - Iron Foundries

Loan Approval Date

9/5/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

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 9 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

How Equity Dilution Works

Banks in Springfield, Missouri

Where to Get an SBA Loan Missouri