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May 16, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Ballwin, Business Loans > National City Bank Ballwin Business Loans > Furniture Stores Loan | ||||
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Business Loans from National City Bank
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St Louis, Missouri Business Gets SBA-Guaranteed Funding from National City BankNational City Bank has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in St Louis, Missouri, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was National City Bank, based in Ballwin, Missouri. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender NATIONAL CITY BANK This lender issued this particular 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. SIC Code 5712 - Furniture Stores Loan Approval Date 7/27/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 - Getting Venture Capital SBA 7A Banks in Ballwin, Missouri
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