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May 17, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Columbia, Business Loans > The Callaway Bank Columbia Business Loans > Clothing Stores Loan | ||||
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I Need a Small Business Loan in Columbia, Missouri
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Where to Get Capital for Clothing StoresLooking for small business loans for clothing stores? An SBA loan may be just what you've been looking for. This $60,000 clothing stores loan was issued by a Missouri bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbia, Missouri was able to borrow $60,000 from The Callaway Bank. The SBA made the loan possible by guaranteeing $51,000 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender THE CALLAWAY BANK This was a Low Documentation SBA loan. The SBA created 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. 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 448190 - Clothing Stores Loan Approval Date 10/12/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Callaway Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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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