Firm Gets a Missouri Business Loan

Small business loans in Missouri are tough to come by these days. We take a look at one Missouri small business loan, provided by a Missouri bank, that was approved by the SBA.

This company, based in Osceola, Missouri, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from St. Clair County State Bank. We've got the inside scoop on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
OSCEOLA, MO 64776

SBA Loan Lender

ST. CLAIR COUNTY STATE BANK
680 SECOND ST
OSCEOLA, MO 64776

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1794 - Excavation Work

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

6/20/2003

Loan Approval Gross Amount

$92,000

Loan Approval from the SBA

Of the total $92,000 loan amount, the SBA guaranteed $78,200.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like St. Clair County State Bank and they will explain how you can get an SBA loan for your company.

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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