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May 11, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Republic, Business Loans > Countryside Bank Republic Business Loans > Used Merchandise Stores Loan | ||||
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Missouri SBA Loan from Countryside Bank
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SBA Loan from Countryside Bank Helps Used Merchandise Stores CompanyAn SBA loan from Countryside Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Springfield, Missouri business owner got a $150,000 loan. This growing company knew how to go about getting a business bank loan. Based in Springfield, Missouri, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Countryside Bank, based in Republic, Missouri. SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender COUNTRYSIDE BANK This commercial 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 5932 - Used Merchandise Stores NAICS Code 453310 - Used Merchandise Stores Loan Approval Date 6/5/2003 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Countryside Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Family and Friend Investors - Your First Financiers SBA 7A Banks in Republic, Missouri
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