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May 9, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > Child Day Care Services Loan | ||||
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How Hard Is It to Get a Small Business Loan in Country Club Hills, Missouri?
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Child Day Care Services Business LoansLooking for business loans for child day care services? An SBA loan may be just what you've been looking for. This $15,200 child day care services loan was issued by a Missouri bank. This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Commerce Bank, out of Kansas City, Missouri. The loan was granted and they received $15,200 to help grow their Country Club Hills, Missouri business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender COMMERCE BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 624410 - Child Day Care Services Loan Approval Date 11/3/2006 Loan Approval Gross Amount $15,200 Loan Approval from the SBA Of the total $15,200 loan amount, the SBA guaranteed $7,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help retain 14 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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: Realistic Debt Financing Options Where to Get an SBA Loan in Kansas City, Missouri
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