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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Mid-Missouri Bank Springfield Business Loans > Site Preparation Contractors Loan | ||||
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SBA Loans from Mid-Missouri Bank
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Mid-Missouri Bank SBA Loan to Site Preparation Contractors CompanyAn SBA loan from Mid-Missouri 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 $855,000 loan. This growing company knew how to go about getting a business bank loan. Based in Stockton, Missouri, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Mid-Missouri Bank, based in Springfield, Missouri. SBA Loan Borrower COMPANY TYPE: SITE PREPARATION CONTRACTORS SBA Loan Lender MID-MISSOURI BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238910 - Site Preparation Contractors Loan Approval Date 5/11/2006 Loan Approval Gross Amount $855,000 Loan Approval from the SBA Of the total $855,000 loan amount, the SBA guaranteed $641,250. 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 13 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Obtaining Funding - How to Borrow Money Banks in Springfield, Missouri
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