Business Loan from Commerce Bank Given to Warm Air Heating And Air Conditioning Equipment Company

An SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a High Ridge, Missouri business owner got a $31,000 loan.

This business knew how to go about getting a business bank loan. Based in High Ridge, Missouri, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Commerce Bank, based in Kirkwood, Missouri.

SBA Loan Borrower

COMPANY TYPE: WARM AIR HEATING AND AIR CONDITIONING EQUIPMENT
HIGH RIDGE, MO 63049

SBA Loan Lender

COMMERCE BANK
300 N KIRKWOOD RD
KIRKWOOD, MO 63122

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5075 - Warm Air Heating and Air Conditioning Equipment

NAICS Code

421730 - Warm Air Heating and Air-Conditioning Equipment and Suppplies Wholesalers

Loan Approval Date

7/28/2000

Loan Approval Gross Amount

$31,000

Loan Approval from the SBA

Of the total $31,000 loan amount, the SBA guaranteed $24,800.

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 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Direct Public Offerings

Banks in Kirkwood, Missouri

Missouri SBA 7A Lenders