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May 4, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Mission, Business Loans > The Mission Bank Mission Business Loans > Photography Studios, Portrait Loan | ||||
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Missouri SBA Loan from The Mission Bank
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Business Loan from The Mission Bank Given to Photography Studios, Portrait CompanyThe Mission Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kansas City, Missouri was able to borrow $20,500 from The Mission Bank. The SBA made the loan possible by guaranteeing $17,425 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT SBA Loan Lender THE MISSION BANK This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 3/21/2003 Loan Approval Gross Amount $20,500 Loan Approval from the SBA Of the total $20,500 loan amount, the SBA guaranteed $17,425. 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 only one employee. 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? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Mission Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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