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About half of startup businesses use an SBA loan program. Conveniently, we offer several government-sponsored programs to assist beginning or expanding small businesses.
The Small Business Administration (SBA) was formed in 1953 and designed to promote small-business formation and startup by guaranteeing long-term fixed rate loans to those who qualify. It has several programs that may fit your needs.
Our bank is an experienced SBA lender, which means a quicker turnaround time for you and a better chance of getting your loan approved and funded. To find out about interest rates and terms for SBA loans, contact one of our loan officers.
The SBA programs we offer include:
Missouri First Rate Enhancement Program:
A qualified borrower can obtain a below market interest rate for up to five years.
Missouri First Job Creation Program:
Get 60% of the market rate to help your business expand by creating new jobs.
SBA PLP (Preferred Lender):
Our bank is one of the top 10 SBA lenders in the St. Louis SBA region. A Preferred Lender certification allows us, in most cases, to give 24 to 48 hour approvals.
SBA 504 Program:
SBA programs enable business owners to finance expansion/acquisition of fixed assets with long-term and fixed rates. This allows business owners to "hedge" rate risks with up to 40% of the project financed at a fixed rate for up to 20 years.
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