Where to Get Capital for Payroll Services

Looking for small business loans for payroll services? An SBA loan may be just what you've been looking for. This $25,000 payroll services loan was issued by a Missouri bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Southwest Bank Of St. Louis, out of Saint Louis, Missouri. The loan was granted and they received $25,000 to help grow their Arnold, Missouri business.

SBA Loan Borrower

COMPANY TYPE: PAYROLL SERVICES
ARNOLD, MO 63010

SBA Loan Lender

SOUTHWEST BANK OF ST. LOUIS
2301 S KINGSHIGHWAY BLVD
SAINT LOUIS, MO 63110

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541214 - Payroll Services

Loan Approval Date

6/24/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help create 2 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Southwest Bank Of St. Louis 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:

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Saint Louis, Missouri

SBA Participating Banks in Missouri