Willard, Missouri Business Gets SBA-Guaranteed Funding from Old Missouri National Bank
Old Missouri National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Missouri entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Willard, Missouri was able to borrow $637,500 from Old Missouri National Bank. The SBA made the loan possible by guaranteeing $478,125 of this Missouri small business loan.
SBA Loan Borrower
COMPANY TYPE: CARWASHES
WILLARD, MO 65781
SBA Loan Lender
OLD MISSOURI NATIONAL BANK
3570 S NATIONAL
SPRINGFIELD, MO 65807
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.
SIC Code
7542 - Carwashes
NAICS Code
811192 - Car Washes
Loan Approval Date
10/21/2003
Loan Approval Gross Amount
$637,500
Loan Approval from the SBA
Of the total $637,500 loan amount, the SBA guaranteed $478,125.
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 only one employee. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Old Missouri National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Small Business Credit Cards
Good Banks for Small Business in Springfield, Missouri
Find an SBA Lender in Missouri