Commerce Bank SBA Loan to Retail Stores Company

Searching for a Missouri SBA loan? Here's one Missouri business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in St. Louis, Missouri, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Commerce Bank, based in Kirkwood, Missouri.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
ST. LOUIS, MO 63129

SBA Loan Lender

COMMERCE BANK
300 N KIRKWOOD RD
KIRKWOOD, MO 63122

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

9/22/2000

Loan Approval Gross Amount

$69,500

Loan Approval from the SBA

Of the total $69,500 loan amount, the SBA guaranteed $55,600.

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 26 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Commerce 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.

Related Links:

Banking Deregulation's Effects on Entrepreneurship

Who Lends Money to Small Businesses in Kirkwood, Missouri

Missouri SBA 7A Lenders