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May 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Metropolitan National Bank Springfield Business Loans > General Automotive Repair Shops Loan | ||||
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Missouri SBA 7A Lenders
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Springfield, Missouri Lender Lends Money to General Automotive Repair Shops CompanyThinking about meeting with a Springfield, Missouri bank about a small business loan? Here's one Missouri business loan, issued by a Springfield bank, that was approved by the SBA. Applying for an SBA loan with Metropolitan National Bank worked out well for our friends at one local company in Branson West, Missouri. They got an SBA loan for $54,500. Great job! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender METROPOLITAN NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/3/2004 Loan Approval Gross Amount $54,500 Loan Approval from the SBA Of the total $54,500 loan amount, the SBA guaranteed $46,325. 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 9 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Good Banks for Small Business in Springfield, Missouri
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