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May 14, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Mountain Grove, Business Loans > First Home Savings Bank Mountain Grove Business Loans > Grocery Stores Loan | ||||
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Banks for Springfield Small Businesses
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Company Gets a Missouri Bank LoanSBA loans in Missouri are hard to find these days. We take a look at one Missouri SBA loan, provided by a Missouri bank, that was approved by the SBA. This business, based in Springfield, Missouri, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Home Savings Bank. We've got the inside scoop on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender FIRST HOME SAVINGS BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 12/2/2004 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new 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. We can help you find the best banks for small businesses in Springfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Realistic Debt Financing Options SBA 7A Lenders in Mountain Grove, Missouri Browse All Business Loan Sources for Missouri
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