Entrepreneur Works With Eureka, Missouri Bank to Get an SBA Loan

Get to know Eureka, Missouri banks that specialize in SBA loans and know how to work with entrepreneurs. Rockwood Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Fenton, Missouri starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Rockwood Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY CONTRACTORS
FENTON, MO 63026

SBA Loan Lender

ROCKWOOD BANK
219 THRESHER
EUREKA, MO 63025

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

2/26/2001

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. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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 Rockwood 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.

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