Wentzville, Missouri Bank Gives SBA Loan to Sporting Goods Stores And Bicycle Shops Company
Get SBA loans from a Wentzville, Missouri bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
First Bank is a Wentzville, Missouri small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Missouri company.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
O'FALLON, MO 63366
SBA Loan Lender
FIRST BANK
1526 S SERVICE RD, HWY 70 WES
WENTZVILLE, MO 63385
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
6/30/2000
Loan Approval Gross Amount
$55,000
Loan Approval from the SBA
Of the total $55,000 loan amount, the SBA guaranteed $44,000.
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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
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