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May 16, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Columbia, Business Loans > The Callaway Bank Columbia Business Loans > Steel Foundries Loan | ||||
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The Callaway Bank Centralia, Missouri
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SBA Loan from The Callaway Bank Helps Steel Foundries CompanyThe Callaway Bank has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Centralia, Missouri was able to borrow $83,000 from The Callaway Bank. The SBA made the loan possible by guaranteeing $66,400 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: STEEL FOUNDRIES SBA Loan Lender THE CALLAWAY BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3325 - Steel Foundries NAICS Code 332312 - Fabricated Structural Metal Manufacturing Loan Approval Date 11/8/2000 Loan Approval Gross Amount $83,000 Loan Approval from the SBA Of the total $83,000 loan amount, the SBA guaranteed $66,400. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Callaway Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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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