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May 16, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Village Bank Springfield Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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SBA Lenders for Everton, Missouri Small Business Owners
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Motor Vehicle Supplies and New Parts Wholesalers Small Business LoansLooking for small business loans for motor vehicle supplies and new parts wholesalers? Talk to a banker who works with the SBA. This $50,000 motor vehicle supplies and new parts wholesalers loan was issued by a Missouri bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Everton, Missouri was able to borrow $50,000 from Village Bank. The SBA made the loan possible by guaranteeing $42,500 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender VILLAGE BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 6/12/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 only one employee. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. 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: Obtaining Funding From a Venture Capitalist Best Banks in Springfield, Missouri Getting an SBA Loan in Missouri
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