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May 10, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > Grocery And Related Products Merchant Wholesalers Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Grocery and Related Products Merchant Wholesalers SBA LoansLooking for SBA loans for grocery and related products merchant wholesalers? The SBA may be the answer. This $45,900 grocery and related products merchant wholesalers loan was issued by a Missouri bank. This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Commerce Bank, out of Kansas City, Missouri. The loan was granted and they received $45,900 to help grow their Belleville, Illinois business. SBA Loan Borrower COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS SBA Loan Lender COMMERCE BANK This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 424490 - Grocery and Related Products Merchant Wholesalers Loan Approval Date 8/13/2007 Loan Approval Gross Amount $45,900 Loan Approval from the SBA Of the total $45,900 loan amount, the SBA guaranteed $22,950. 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 indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Good Banks for Small Business in Kansas City, Missouri
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