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May 14, 2024  
 
 
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Get a Business Loan in Park Hills, Missouri

 

 
Loan Census SBA Loan Info

First State Community Bank Gives Bank Loan to Building Material Dealers Company

SBA loans in Missouri are are few and far betweeen these days. We take a look at one Missouri SBA loan, provided by a Missouri bank, that was approved by the SBA.

This business, based in Park Hills, Missouri, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First State Community Bank. We've got the inside scoop on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
PARK HILLS, MO 63601

SBA Loan Lender

FIRST STATE COMMUNITY BANK
20 E SCHOOL ST
BONNE TERRE, MO 63628

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

2/14/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 loan application did not indicate that the small business planned to use the funding 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - Friends and Family

Small Business Banks in Bonne Terre, Missouri

Missouri SBA Bank Lenders