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May 14, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Bolivar, Business Loans > Bank Of Bolivar Bolivar Business Loans > Meat Packing Plants Loan | ||||
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Getting an SBA Loan in Fair Grove, Missouri
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Bank Of Bolivar Gives Bank Loan to Meat Packing Plants CompanyMissouriSBA loans are available to Missouri entrepreneurs through the SBA. In this case, a Missouri bank provides the loan. Getting a small business loan in Fair Grove, Missouri was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Bolivar. Here are the details on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: MEAT PACKING PLANTS SBA Loan Lender BANK OF BOLIVAR This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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 2011 - Meat Packing Plants NAICS Code 311611 - Animal Slaughtering Loan Approval Date 10/9/2003 Loan Approval Gross Amount $464,000 Loan Approval from the SBA Of the total $464,000 loan amount, the SBA guaranteed $348,000. 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money 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: The Friends and Family Network SBA Participating Banks in Bolivar, Missouri Getting an SBA Loan in Missouri
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