SBA Loan from Southwest Bank Of St. Louis Helps Business Services Company

Southwest Bank Of St. Louis and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Alton, Illinois was an essential business goal for this company back in 2002 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 Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
ALTON, IL 62002

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

541410 - Interior Design Services

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Southwest Bank Of St. Louis that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Direct Public Offerings

Best Banks for Small Business in Saint Louis, Missouri

Missouri SBA 7A Banks