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May 12, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Saint Louis, Business Loans > Southwest Bank Of St. Louis Saint Louis Business Loans > Musical Instrument And Supplies Stores Loan | ||||
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Best Banks That Lend to Missouri Business Owners
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Local Business Gets a Missouri SBA LoanWould a Missouri business loan help your company expand? If so, you may want to talk with this Missouri bank, which offers SBA loans to Missouri entrepreneurs. This company, based in Saint Louis, 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 Southwest Bank Of St. Louis. We've got the inside scoop on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES SBA Loan Lender SOUTHWEST BANK OF ST. LOUIS This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451140 - Musical Instrument and Supplies Stores Loan Approval Date 1/12/2005 Loan Approval Gross Amount $83,400 Loan Approval from the SBA Of the total $83,400 loan amount, the SBA guaranteed $70,890. 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. The SBA loan documents indicated that the loan would help generate 5 new jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 Southwest Bank Of St. Louis 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. Related Links: Small Business Banks in Saint Louis, Missouri
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