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May 3, 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 > Engineering Services Loan | ||||
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Saint Louis SBA Lenders
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Entrepreneur Works With Saint Louis, Missouri Bank to Get an SBA LoanWant to talk with a Saint Louis, Missouri bank about an SBA 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 Southwest Bank Of St. Louis worked out well for our friends at one local company in St. Louis, Missouri. They received an SBA loan for $75,000. Sweet! SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender SOUTHWEST BANK OF ST. LOUIS This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 10/7/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 12 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in St. Louis or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Realistic Debt Financing Options Banks in Saint Louis, Missouri
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