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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Drugs And Druggists' Sundries Merchant Wholesalers Loan | ||||
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St. Louis, Missouri Bank Loan
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St. Louis, Missouri Entrepreneur Gets a Bank LoanBusiness loans in Missouri are hard to find these days. We take a look at one Missouri business loan, provided by an Illinois bank, that was approved by the SBA. This small business, 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 National City Bank. We've got the inside scoop on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES MERCHANT WHOLESALERS SBA Loan Lender NATIONAL CITY BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424210 - Drugs and Druggists' Sundries Merchant Wholesalers Loan Approval Date 6/3/2005 Loan Approval Gross Amount $950,000 Loan Approval from the SBA Of the total $950,000 loan amount, the SBA guaranteed $712,500. 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 21 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 National City 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. Related Links: Banking Deregulation's Effects on Entrepreneurship Best Bannockburn, Illinois Banks for Small Business
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