Fenton, Missouri Business Gets SBA-Guaranteed Funding from Bank Midwest

Bank Midwest and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Fenton, Missouri, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Midwest, based in Chesterfield, Missouri.

SBA Loan Borrower

COMPANY TYPE: METAL STAMPINGS
FENTON, MO 63026

SBA Loan Lender

BANK MIDWEST
15500 OLIVE BLVD
CHESTERFIELD, MO 63017

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3469 - Metal Stampings

Loan Approval Date

3/28/2000

Loan Approval Gross Amount

$515,000

Loan Approval from the SBA

Of the total $515,000 loan amount, the SBA guaranteed $463,500.

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 20 employees. This SBA loan request did not indicate that the small business promised 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?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Midwest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Midwest made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Decide How Much to Raise

Good Banks for Small Business in Chesterfield, Missouri

Missouri SBA 7A Lenders