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May 13, 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 > Accounting Services Loan | ||||
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Southwest Bank Of St. Louis St Louis
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St Louis, Missouri Business Gets SBA-Guaranteed Funding from Southwest Bank Of St. LouisAn SBA loan from Southwest Bank Of St. Louis typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a St Louis, Missouri business owner got a $150,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Southwest Bank Of St. Louis, out of Saint Louis, Missouri. The loan was granted and they received $150,000 to help grow their St Louis, Missouri business. SBA Loan Borrower COMPANY TYPE: ACCOUNTING SERVICES SBA Loan Lender SOUTHWEST BANK OF ST. LOUIS This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves 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 541219 - Accounting Services Loan Approval Date 6/22/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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 Bank Loans in Saint Louis, Missouri
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