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May 5, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Saint Louis, Business Loans > National City Bank Saint Louis Business Loans > Eating Places Loan | ||||
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Saint Louis, Missouri SBA 7A Banks
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Saint Louis, Missouri Bank Lends Money to Eating Places Company in St. Louis, MissouriThinking about meeting with a Saint Louis, Missouri bank about a business loan? Here's one Missouri business loan, issued by a Saint Louis bank, that was approved by the SBA. Applying for an SBA loan with National City Bank worked out well for our friends at one local business in St. Louis, Missouri. They received an SBA loan for $100,000. Nice! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NATIONAL CITY BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/28/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 20 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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 National City Bank 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: SBA 7A Banks for Saint Louis, Missouri Loans
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