Washington, Missouri Bank Gives SBA Loan to Outdoor Power Equipment Stores Company

Get to know Washington, Missouri banks that specialize in business loans and know how to work with entrepreneurs. Bank Of Franklin County is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Villa Ridge, Missouri starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Bank Of Franklin County. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OUTDOOR POWER EQUIPMENT STORES
VILLA RIDGE, MO 63089

SBA Loan Lender

BANK OF FRANKLIN COUNTY
900 E EIGHTH ST
WASHINGTON, MO 63090

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Bank Of Franklin County 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.

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Find an SBA Lender in Washington, Missouri

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