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April 30, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Reeds Spring, Business Loans > Great Southern Bank Reeds Spring Business Loans > Bath Junkie Loan | ||||
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Business Loans for Springfield Businesses
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Springfield, MO Entrepreneur Gets SBA Loan to Buy Bath Junkie FranchiseBorrowing money to buy a Bath Junkie franchise? Great Southern Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Bath Junkie franchise? If so, here's a 2002 SBA franchise loan that you should know about. Great Southern Bank was the lender and the entrepreneur was based in Springfield, Missouri. SBA Loan Borrower BATH JUNKIE SBA Loan Lender GREAT SOUTHERN BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires 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 5999 - Retail Stores NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 6/17/2002 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Bath Junkie franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Great Southern Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Role of Business Plan When Raising Money SBA 7A Banks in Reeds Spring, Missouri
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