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May 17, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Jefferson City, Business Loans > The Central Trust Bank Jefferson City Business Loans > Children's And Infants' Clothing Stores Loan | ||||
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How to Get SBA Money in Jefferson City, Missouri
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Growing Company Gets a Missouri Small Business LoanBank loans in Missouri are hard to find these days. We take a look at one Missouri bank loan, provided by a Missouri bank, that was approved by the SBA. By giving the right information to The Central Trust Bank, this Jefferson City, Missouri business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES SBA Loan Lender THE CENTRAL TRUST BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448130 - Children's and Infants' Clothing Stores Loan Approval Date 10/7/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Central Trust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Central Trust 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Jefferson City, Missouri Getting a Business Loan in Missouri
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