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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 > Lumber And Other Building Materials Dealer Loan | ||||
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How Hard Is It to Get a Small Business Loan in Rogersville, Missouri?
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Commercial Loans for Building Material DealersLooking for commercial loans for building material dealers? Try the SBA. This $150,000 building material dealers loan was issued by a Missouri bank. Getting a small business loan in Rogersville, Missouri was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Mid-Missouri Bank, operating out of Springfield, Missouri. Here are the details on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER SBA Loan Lender MID-MISSOURI BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5211 - Lumber and Other Building Materials Dealer NAICS Code 444190 - Building Material Dealers Loan Approval Date 7/1/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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. Related Links: Borrowing Money from Friends and Family Best Springfield, Missouri Banks for Small Business
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