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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.
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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