Firm Gets a Missouri Small Business Loan

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

This business, based in St. Ann, 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 Midwest Bankcentre. We've got the inside scoop on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND ALLIED SERVICES
ST. ANN, MO 63125

SBA Loan Lender

MIDWEST BANKCENTRE
2191 LEMAY FERRY RD
SAINT LOUIS, MO 63125

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.

SIC Code

8099 - Health and Allied Services

NAICS Code

541690 - Scientific and Technical Consulting Services

Loan Approval Date

10/25/2000

Loan Approval Gross Amount

$19,000

Loan Approval from the SBA

Of the total $19,000 loan amount, the SBA guaranteed $9,500.

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 3 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

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

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 Midwest Bankcentre 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.

Related Links:

Raising VC Money for Social Networking Companies

SBA Participating Banks in Saint Louis, Missouri

Missouri SBA Banks