West Plains, MO Entrepreneur Gets SBA Loan to Buy Sears Catalog Store Franchise

Need a loan to buy a Sears Catalog Store franchise? Community 1st National Bank - W. Pla has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in West Plains, Missouri needed money to invest in a Sears Catalog Store franchise back in 2004. Community 1st National Bank - W. Pla issued an SBA franchise loan. Here are the details on this Missouri small business loan.

SBA Loan Borrower

SEARS OF WEST PLAINS, INC.
WEST PLAINS, MO 65775

SBA Loan Lender

COMMUNITY 1ST NATIONAL BANK - W. PLA
1330 SOUTHERN HILLS CTR
WEST PLAINS, MO 65775

This lender issued this loan for a small business under the SBA's 7A loan, 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.

SIC Code

5311 - Department Stores

NAICS Code

452111 - Department Stores

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$266,200

Loan Approval from the SBA

Of the total $266,200 loan amount, the SBA guaranteed $199,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $266,200 loan. Remember, feel the fear, and do it anyway.

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:

How to Raise Money

Banks in West Plains, Missouri

Missouri SBA 7A Lenders