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May 7, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Platte City, Business Loans > Platte Valley Bank Of Missouri Platte City Business Loans > Textile Product Mills Loan | ||||
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Banks Doing SBA Loans in Missouri
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Platte City, Missouri Bank Lends Money to Textile Product Mills Company in Kearney, MissouriGet to know Platte City, Missouri banks that specialize in SBA loans and know how to work with entrepreneurs. Platte Valley Bank Of Missouri is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Kearney, Missouri starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Platte Valley Bank Of Missouri. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: TEXTILE PRODUCT MILLS SBA Loan Lender PLATTE VALLEY BANK OF MISSOURI This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 314999 - Textile Product Mills Loan Approval Date 6/7/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Participating Banks in Platte City, Missouri
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