First Bank Of Missouri Provides SBA Loan to Buy Waffle House Franchise
Need money to purchase a Waffle House franchise? First Bank Of Missouri has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Waffle House franchise? If so, here's a 2004 SBA franchise loan that you should know about. First Bank Of Missouri was the lender and the entrepreneur was based in Kansas City, Missouri.
SBA Loan Borrower
KANSAS CITY, MO 64151
SBA Loan Lender
FIRST BANK OF MISSOURI
7001 N OAK TFWY
GLADSTONE, MO 64118
This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a 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.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Waffle House franchise. At the time of the loan, the company
had 78 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?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Bank Of Missouri and they will explain how you can get an SBA loan for your company.
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.
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