Local Business Gets a Missouri Small Business Loan

Want a Missouri business loan? This Missouri entrepreneur got a business loan, provided by a Missouri bank that works with the SBA to help small business owners.

Getting a small business loan in St. Louis, Missouri was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
ST. LOUIS, MO 63108

SBA Loan Lender

NATIONAL CITY BANK
10401 CLAYTON RD
SAINT LOUIS, MO 63131

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

6/5/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

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 National City Bank 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.

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