Firm Gets a Missouri SBA Loan

Small business loans in Missouri are tough to come by these days. We take a look at one Missouri small business loan, provided by a Missouri bank, that was approved by the SBA.

Getting a small business loan in St. Johns, Missouri was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from St. Johns Bank & Trust. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING
ST. JOHNS, MO 63114

SBA Loan Lender

ST. JOHNS BANK & TRUST
8924 ST. CHARLES ROCK RD
SAINT LOUIS, MO 63114

This lender issued this particular business 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

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

5/6/2005

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Bank Loans in Saint Louis, Missouri

SBA Lenders in Missouri