Firm Gets a Missouri Bank Loan

Small business loans in Missouri are tough to come by these days. We take a look at one Missouri small business loan, provided by a Missouri bank, that was approved by the SBA.

Getting a small business loan in Webster Groves, Missouri was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
WEBSTER GROVES, MO 63119

SBA Loan Lender

COMMERCE BANK
1000 WALNUT ST
KANSAS CITY, MO 64141

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Webster Groves MO, you ought to talk with a local Webster Groves SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Webster Groves businesses.

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.

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