Borrowing Money for Industrial Machinery and Equipment Wholesalers

With these small business loans for industrial machinery and equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment wholesalers loan for $1,213,000 was given to a Missouri entrepreneur in 2001.

Getting a small business loan in St. Louis, Missouri was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Southwest Bank Of St. Louis, operating out of Saint Louis, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
ST. LOUIS, MO 63104

SBA Loan Lender

SOUTHWEST BANK OF ST. LOUIS
2301 S KINGSHIGHWAY BLVD
SAINT LOUIS, MO 63110

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5084 - Industrial Machinery and Equipment

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

8/21/2001

Loan Approval Gross Amount

$1,213,000

Loan Approval from the SBA

Of the total $1,213,000 loan amount, the SBA guaranteed $909,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 46 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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