Missouri small business lenders offer resources to help companies thrive.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Missouri is The Show Me State. It is known for many things, including the Missouri River that flows through it. A large state, there are numerous areas of agricultural development here as well as various areas of natural parks and preserves. It’s the ideal place for a fall hike or camping in the summer. For many, the state is known for its numerous fountains, which seem to be present in various areas of the state. Its largest city is Kansas City, though the Greater St. Louis area is the biggest metro area in the state. Jefferson City is the state’s capital. For the 6.1 million people that live here, it is a thriving and diverse community with much to offer, including small businesses.
A number of large businesses call the state home, including Monsanto, Edward Jones, Wells Fargo Advisors, and Cerner. One reason for this is its diversity and numerous economic centers. The state’s major industries include food processing, chemicals, light manufacturing, aerospace, and transportation. Yet, beyond these large organizations are a large number of small companies, about 542,700 of them, according to data from the U.S. Small Business Administration. Those companies contribute $47,390,272 in payroll through 1.2 million jobs. Without a doubt, they are important economic contributors and often are one of the most important players in the livelihoods of those who live here.
As such, there is a need for small business lenders in Missouri, and many of them exist. Capital is valuable to anyone building a business, especially in an area like this where there is a lot of competition. According to the most recent three years of data available from the Small Business Administration, there are 2,914 active small business loans with a total value of $1,651,144,102. The average loan size for these small business loans in Missouri is $566,625. Small business loans are a valuable, even critical financial look that people need to help fund their company’s growth and development.
Small business loans provide owners with access to the capital they need to build and grow their businesses. Missouri small business lenders provide the capital for these loans to qualified businesses based on factors such as credit, age, and need. The business then must repay the loan with interest over a predetermined amount of time, most often 5 to 10 years, though some may be longer. The capital becomes available to the borrower to use for any business-related need they have, though most often, these loans are not designed to meet the needs of companies just starting up.
Several types of business loans are available to many small businesses. These loan types are designed to provide a variety of opportunities to borrow funds in a way that works to meet the company’s needs. For example, SBA loans are typically longer term loans that are, at least in part, guaranteed by the government. This helps to provide the lender with more protection, reducing the risk and helping the borrower qualify for a lower interest rate.
Other loans are designed to meet other needs, often very specific goals, such as equipment financing. This type of loan is secured, meaning the value of the equipment as collateral. Other loans are credit lines, meaning the business can borrow, pay back, and then borrow the funds again.
Some of the basic structures of small business loans in Missouri include:
To obtain a small business loan, companies need to meet the specific requirements set by the lender. Those rules change based on the lender but also the type of loan, and the amount borrowed. Most often, lenders need to be sure the borrower can repay the debt on a timely basis, meeting their obligation. To determine this, most lenders will require a full credit check and the history of the business.
The history of the business may include a look at profit and loss statements, proof of ownership, credit scores for the business (or the owner if the business does not have an established credit score), as well as balance sheets and tax returns. Often, a business plan can also be helpful if you’re going to consider applying for a small business loan program.
This information helps lenders determine the amount of the loan as well as the interest rate. The lower the interest rate, the more affordable the loan will be, making it well worth applying for the funds. Missouri lenders can also be supportive and flexible, offering opportunities to borrowers for a wide range of needs with various terms and conditions.
As a business, it is a good idea to compare several types of loans and lenders before making any decision to borrow. Doing so will help business owners ensure they are getting the best possible option for their needs. The more you know about the lender and the qualifications they have, the better. Whether you need real estate or simply more capital to expand from the startup phase, small business owners in Missouri typically at least consider taking out a loan or other business financing. Sometimes, getting financial assistance through microloans or as a for-profit enterprise can be challenging.
Non-profit directors and boards may also explore economic development monies from local governments or other statewide grants, too. Entrepreneurs focusing on business development should look at all possible options for scaling their company, including loans from lending institutions. Loan terms, loan application types, repayment terms, loan amounts, and other eligibility criteria will vary from one lender to another across the state of Missouri.
| Rank | Bank Name | # of Missouri Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | OakStar Bank | 98 | 5.66% | $830,772 |
| 2 | The Central Trust Bank | 57 | 4.92% | $340,500 |
| 3 | U.S. Bank | 48 | 6.41% | $127,177 |
| 4 | Guaranty Bank | 45 | 5.71% | $443,789 |
| 5 | Commerce Bank | 42 | 4.72% | $291,171 |
| 6 | The Bank of Missouri | 40 | 5.69% | $342,370 |
| 7 | Legacy Bank & Trust Company | 30 | 5.32% | $485,083 |
| 8 | Regent Bank | 28 | 5.56% | $383,432 |
| 9 | American Bank of Missouri | 22 | 5.57% | $1,243,527 |
| 10 | Meramec Valley Bank | 22 | 4.97% | $136,627 |
With 33 community owned branches throughout Missouri, OakStar Bank is able to meet the needs of its customers with all of its products and services. Providing services such as small business loans, personal and business checking and savings, mortgages, and private banking OakStar Bank meets all customer’s needs.
We reached out to OakStar Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Started in 1902, in Missouri, The Central Trust Bank started as the Central Missouri Trust Company. Now with locations throughout Kansas, Oklahoma, and Missouri, Central Trust bank is able to meet all of its customer’s needs with the wide variety of products and services it offers.
We reached out to Central Trust Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
First coming into existence in 1863 as the First National Bank of Cincinnati, U.S. Bank now operates in 26 states across the country. U.S. Bank offers a number of products and services to meet customers’ needs, including small business loans and personal banking solutions, including checking and savings.
We reached out to U.S. Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Guaranty State Bank was started in 1913 when the Texas Department of Banking issued it a charter. The Guaranty Bank has since grown from 1 location to now have 32 locations across 26 counties, providing a number of banking services, including small business loans and personal banking.
We reached out to Guaranty Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
For over 155 years, Commerce Bank has been providing services from its headquarters in Kansas City, Missouri. Having a number of products available for corporate banking, small business loans, personal banking, wealth management, and business banking, Commerce Bank can help almost anyone with their financial goals.
We reached out to Commerce Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Obtaining the best small business loans in Missouri is a priority. For most companies, there’s more information and a variety of resources available to help improve business operations and efforts. Consider these two free resources.
The Small Business Administration in Missouri offers a wide range of services for small businesses in the state, including support with funding, counseling support, disaster recovery support, and even help to obtain certifications for federal contracting. The company also offers a business guide online that is packed with helpful information and tips to help companies to make the best decisions about managing their business.
SCORE is another exceptional too. This is an organization built by successful business owners to support new owners. Webinars and mentorship opportunities exist here.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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