Financing for Rice Milling

With these loans for rice milling, the SBA guarantees the lender that the loan will be repaid. This rice milling loan for $50,000 was given to a Missouri entrepreneur in 2003.

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

SBA Loan Borrower

COMPANY TYPE: RICE MILLING
ST. LOUIS, MO 63105

SBA Loan Lender

NATIONAL CITY BANK
7801 FORSYTH BLVD
CLAYTON, MO 63105

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311212 - Rice Milling

Loan Approval Date

10/3/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $45,000.

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 5 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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