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January 21, 2025 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Liberty Bank Springfield Business Loans > Motor Vehicle Supplies And New Parts Merchant Wholesalers Loan | ||||
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What Does It Take to Get a Business Loan in Springfield, Missouri?
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Where to Get Capital for Motor Vehicle Supplies and New Parts Merchant WholesalersLooking for SBA loans for motor vehicle supplies and new parts merchant wholesalers? An SBA loan may be just what you've been looking for. This $46,000 motor vehicle supplies and new parts merchant wholesalers loan was issued by a Missouri bank. This small business knew how to go about getting a business bank loan. Based in Springfield, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Liberty Bank, based in Springfield, Missouri. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS SBA Loan Lender LIBERTY BANK This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers Loan Approval Date 4/26/2007 Loan Approval Gross Amount $46,000 Loan Approval from the SBA Of the total $46,000 loan amount, the SBA guaranteed $39,100. 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 no employees. The SBA loan documents indicated that the loan would help create 1 new job. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: SBA 7A Lenders in Springfield, Missouri Browse All Business Loan Sources for Missouri
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