Strafford, MO Entrepreneur Gets SBA Loan to Buy Mailbox It Franchise

Need money to buy a Mailbox It franchise? Southern Missouri Bank - Marshfi has a history of making these loans and they are guaranteed by the SBA.

Mailbox It franchise loans are available to Strafford, Missouri entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Southern Missouri Bank - Marshfi, based in Marshfield, Missouri, issued an SBA franchise loan for a Mailbox It franchise in 2003. We've got all the details on this Missouri small business loan.

SBA Loan Borrower

MAILBOX IT
STRAFFORD, MO 65757

SBA Loan Lender

SOUTHERN MISSOURI BANK - MARSHFI
1292 BANNING ST
MARSHFIELD, MO 65706

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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

491110 - Postal Service

Loan Approval Date

11/28/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mailbox It franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

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:

Mailbox IT

Business Credit Evaluation

SBA Approved Banks in Marshfield, Missouri

SBA Participating Banks in Missouri