Lake St. Louis, Missouri Business Gets SBA-Guaranteed Funding from Peoples National Bank

An SBA loan from Peoples National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lake St. Louis, Missouri business owner got a $132,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Peoples National Bank, out of Mount Vernon, Illinois. The loan was granted and they received $132,000 to help grow their Lake St. Louis, Missouri business.

SBA Loan Borrower

COMPANY TYPE: TRUCK, UTILITY TRAILER, AND RV RENTAL AND LEASING
LAKE ST. LOUIS, MO 63367

SBA Loan Lender

PEOPLES NATIONAL BANK
413 S 34TH ST
MOUNT VERNON, IL 62864

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532120 - Truck, Utility Trailer, and RV Rental and Leasing

Loan Approval Date

9/5/2002

Loan Approval Gross Amount

$132,000

Loan Approval from the SBA

Of the total $132,000 loan amount, the SBA guaranteed $112,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find business people willing to loan money, 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.

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