Missouri Bank Loan Issued to Beauty Salons Company

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

You can learn something about getting a small business loan in St. Ann, Missouri by studying this loan to a local company, made back in 2004. Banks like Irwin Union Bank, F.S.B. may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
ST. ANN, MO 63105

SBA Loan Lender

IRWIN UNION BANK, F.S.B.
500 WASHINGTON ST
COLUMBUS, IN 47202

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

812112 - Beauty Salons

Loan Approval Date

1/15/2004

Loan Approval Gross Amount

$58,500

Loan Approval from the SBA

Of the total $58,500 loan amount, the SBA guaranteed $29,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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