Mtn. Grove, Missouri Business Gets SBA-Guaranteed Funding from First Home Savings Bank

First Home Savings Bank has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Mtn. Grove, Missouri, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Home Savings Bank, based in Mountain Grove, Missouri.

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIALS AND RESINS
MTN. GROVE, MO 65711

SBA Loan Lender

FIRST HOME SAVINGS BANK
142 E 1ST ST
MOUNTAIN GROVE, MO 65711

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2821 - Plastics Materials and Resins

NAICS Code

325211 - Plastics Material and Resin Manufacturing

Loan Approval Date

5/18/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 70 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Home Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Good Banks for Small Business in Mountain Grove, Missouri

Getting a Business Loan in Missouri