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May 9, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Saint Louis, Business Loans > St. Johns Bank & Trust Saint Louis Business Loans > Clothing Stores Loan | ||||
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Jennings, Missouri Bank Loan
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Business Loans for Clothing StoresWith these business loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $64,800 was given to a Missouri entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jennings, Missouri was able to borrow $64,800 from St. Johns Bank & Trust. The SBA made the loan possible by guaranteeing $55,080 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender ST. JOHNS BANK & TRUST This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 10/8/2002 Loan Approval Gross Amount $64,800 Loan Approval from the SBA Of the total $64,800 loan amount, the SBA guaranteed $55,080. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from St. Johns Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Advice on Getting a Small Business Loan Small Business Banks in Saint Louis, Missouri
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