Missouri Business Loan Issued to Painting And Paper Hanging Company

MissouriBank loans are available to Missouri firms through the SBA. In this case, a Missouri bank provides the loan.

You can learn something about getting a small business loan in Webb City, Missouri by studying this loan to a local company, made back in 2003. Banks like Mid-Missouri Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND PAPER HANGING
WEBB CITY, MO 64870

SBA Loan Lender

MID-MISSOURI BANK
100 N MAIN ST
WEBB CITY, MO 64870

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires 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

1721 - Painting and Paper Hanging

NAICS Code

238320 - Painting and Wall Covering Contractors

Loan Approval Date

5/1/2003

Loan Approval Gross Amount

$85,600

Loan Approval from the SBA

Of the total $85,600 loan amount, the SBA guaranteed $72,760.

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 2 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

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

If you are wondering how to raise money for a business in Webb City MO, you ought to talk with a local Webb City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Webb City 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 Mid-Missouri 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:

Find Start-Up Capital

Best Banks in Webb City, Missouri

Missouri SBA 7A Banks