Missouri Small Business Loan Issued to Drinking Places Company
Want a Missouri SBA loan? This Missouri entrepreneur got an SBA loan, provided by a Texas bank that works with the SBA to help small business owners.
This company, based in St. Louis, 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 Small Business Loan Source LLC. We've got the inside scoop on this Missouri small business loan.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
ST. LOUIS, MO 63101
SBA Loan Lender
SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722410 - Drinking Places
Loan Approval Date
4/26/2006
Loan Approval Gross Amount
$1,458,000
Loan Approval from the SBA
Of the total $1,458,000 loan amount, the SBA guaranteed $1,093,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 30 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, 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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,458,000 loan. Remember, anyone can do it... so why not you?
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:
Debt Financing
SBA 7A Lenders in Houston, Texas
Getting an SBA Loan in Texas