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April 28, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Mid-Missouri Bank Springfield Business Loans > Personal Services Loan | ||||
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SBA 7A Banks in Missouri
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Getting an SBA Loan for Personal Care ServicesWith these commercial loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $126,000 was given to a Missouri entrepreneur in 2003. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Mid-Missouri Bank, out of Springfield, Missouri. The loan was granted and they received $126,000 to help grow their Conway, Missouri business. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender MID-MISSOURI BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a 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. SIC Code 7299 - Personal Services NAICS Code 812199 - Personal Care Services Loan Approval Date 5/13/2003 Loan Approval Gross Amount $126,000 Loan Approval from the SBA Of the total $126,000 loan amount, the SBA guaranteed $107,100. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mid-Missouri Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 7A Banks for Springfield, Missouri Loans
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