Bonne Terre, Missouri Business Gets SBA-Guaranteed Funding from First State Community Bank

An SBA loan from First State Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bonne Terre, Missouri business owner got a $100,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First State Community Bank, out of Bonne Terre, Missouri. The loan was granted and they received $100,000 to help grow their Bonne Terre, Missouri business.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
BONNE TERRE, MO 63628

SBA Loan Lender

FIRST STATE COMMUNITY BANK
20 E SCHOOL ST
BONNE TERRE, MO 63628

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

12/18/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the money 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, you control your own destiny.

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.

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