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April 28, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Merriam, Business Loans > Morrill & Janes Bank & Trust Merriam Business Loans > Coating, Engraving, And Allied Services Loan | ||||
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Morrill & Janes Bank & Trust SBA Loan
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Morrill & Janes Bank & Trust SBA Loan to Coating, Engraving, And Allied Services CompanyMorrill & Janes Bank & Trust 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. This growing company knew how to go about getting a business bank loan. Based in Independence, Missouri, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Morrill & Janes Bank & Trust, based in Merriam, Kansas. SBA Loan Borrower COMPANY TYPE: COATING, ENGRAVING, AND ALLIED SERVICES SBA Loan Lender MORRILL & JANES BANK & TRUST This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 3479 - Coating, Engraving, and Allied Services NAICS Code 332812 - Metal Coating, Engraving and Allied Services Loan Approval Date 1/25/2007 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, if it to be, it is up to me! 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:
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