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General
Business Loans Information
Lines
of Credit | Term Loans | Commercial
Real Estate Loans
Construction Loans - Real Estate Term Loans
- SBA/EDC 504 Loans - FAQs
Construction
Loans
This
type of loan allows you to pay for construction as it happens, borrowing
only the money you need as you need it. You will submit periodic draw
requests for specific work that has been completed. After inspecting the
work, we will advance on the draw requests to pay your contractors.
- Used
for new construction or renovation of real estate
- Interest-only
payments during construction reduce debt service requirements
- Floating
interest rate
[Click
here to download a Construction Draw Request] Acrobat Reader is required
to view and print this application. If you do not have Acrobat Reader,
it is FREE to download.
Apply for a loan.
Real
Estate Term Loans
Real
Estate Term Loans are used for the purchase or refinance of real estate.
A conventional real estate loan will provide financing of up to 80% of
the market value of the property.
- Maturity
of three to five years
- Equal
monthly payments
- Amortization
of up to 20 years
- Fixed
interest rates available
Apply for a loan.
SBA/EDC
504 Loans
Missouri
Bank works closely with various local economic development corporations
to offer the SBA 504 program to qualified borrowers.
The SBA’s
504 loan program funds small businesses making fixed-asset investments
from $120,000 up to several million dollars to create or retain jobs.
The program provides long-term financing at a fixed interest rate with
a low down payment, typically ten percent. Loans can be used for fixed
assets including:
- Land
acquisition/construction
- Purchase/remodeling
of an existing building
- Purchase/repair
of machinery and equipment
SBA 504
loans for real estate are structured as follows:
- Bank
provides 50 percent of the financing for at least ten years, amortized
up to 20 years, at market interest rate
- SBA
provides 40 percent of financing for a 10- or 20-year term and amortization
with a fixed interest rate determined at the time of funding
- The
borrower contributes the remaining 10 percent
- The
bank has a first collateral position followed by the SBA.
Apply for a loan.
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