Business Loans & SBA Loans in Missouri

Missouri is a great place for entrepreneurs, thanks to its business-friendly tax climate, ideal blend of large cities and tranquil small towns, and educated workforce. If you’d like to open or grow a small business in the Show-Me State, small business loans are worth considering. 

Types of Business Loans in Missouri

There are many small business loans in Missouri, making it important to shop around and compare your options. As you search for financing for your venture, you may come across these popular options. 

SBA Loans

Since SBA loans are backed by the U.S. Small Business Administration (SBA), the SBA will guarantee a portion of the funds you borrow. If you have strong credit and have been around for at least two years, you may lock in a low interest rate and lengthy repayment term.

Line of Credit

If you’re unsure of exactly how much money you need, a line of credit can make sense. You’ll be able to withdraw funds at any time, up to a set credit limit. You’ll only pay interest on the amount you borrow, rather than the total amount you’ve been approved for. 

Term Loan

Term loans are traditional bank loans that offer a lump sum of money up front. While repayment terms vary, they’re usually somewhere between a few months and a few years. Compared to other types of business loans, term loans offer competitive rates and favorable terms. The only caveat is that good credit is often required, and it may take time to receive the funds.

Equipment Finance

Equipment loans are what they sound like: loans intended to cover the cost of equipment. If you need new or used equipment to run your small business, a lender may lend you 80% to 100% of its total cost. Since they’re secured to the equipment itself, equipment loans are easy to get. 

Accounts Receivable Financing

Accounts receivable financing is when your business sells its outstanding invoices to a company in exchange for fast cash. The company will then advance you 70% to 95% of the invoice amount and collect payments from customers on your behalf. If you have slow-paying customers and can’t wait long for the money, accounts receivable financing is a solid choice.

Missouri Business Loan Options

Several organizations service loans to businesses that set up shop in Missouri.

The Bank of Missouri is an SBA-approved lender and also offers commercial real estate loans, lines of credit, and term loans with local branches throughout the state.

Neighbors Credit Union, which has several branches throughout Missouri offers a lineup of business loan products, such as term loans, lines of credit, and commercial real estate loans.

Mid-Missouri Bank offers SBA loans, commercial real estate loans, term loans, equipment loans, and lines of credit for the purchase of retail goods.

First State Community Bank has been serving Missouri small businesses since 1954. They offer lines of credit, SBA loans, accounts receivable financing, and term loans.

The Missouri Bank offers SBA loans, lines of credit, business acquisition loans, and farm and agricultural equipment loans. It primarily serves Warren, St. Charles, Pettis, Boone, and Casconade counties.

American Bank of Missouri offers real estate and construction loans, SBA loans, equipment loans, and lines of credit through its local branches.

How to apply for a small business loan

Fill out the 15-minute online application.

It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.

Receive matches.

See which credit cards you qualify for before choosing the one that best suits your business needs and offers the cash rewards you’re looking for.

Get funded.

Once you choose a card, you can get approved in as little as 7-10 days.

Apply Now

FAQ about Small Business Loans in Missouri

MOSourceLink was designed to connect startups, entrepreneurs, and small businesses in the state through classes and events on various business topics. The Missouri Small Business Development Center (SBDC)’s free counseling services can help you apply for grants and meet the technical and organizational needs of your venture. There’s also T-REX—a non-profit entrepreneur development and innovation facility in St. Louis that offers affordable space for early-stage entrepreneurs with conference rooms, Wi-Fi, and more.


Missouri is home to several grants targeted at small businesses. You can find an updated list of them on Missouri GrantWatch. One grant opportunity is the Small Business Grant from the city of St. Louis. If you’ve been impacted by COVID-19, have less than 25 employees, and operate in person, it’s worth applying for. 


To qualify for a Missouri business loan, you’ll need to select a structure like a corporation or LCC and officially set up your business. Then, use the Missouri business name database to make sure your preferred business name is available. If you plan to form a corporation or LLC, you’ll need to appoint a registered agent and file Articles of Organization or Articles of Incorporation. Once you’ve gone through these steps and obtained an Employer Identification Number (EIN), you’ll be ready to apply for financing. Qualifications for a loan will vary, but will likely include credit score, time in business, and business finances.

It’s a good idea to do some research and compare small business financing options. With an online platform like Lendio, you can do just that. If you have a good credit score and want to take your time paying back your funds, an SBA loan may be ideal. But if you’re a seasonal business or you need fast cash, a line of credit or accounts receivable financing is likely the better choice.

A business loan in Missouri can help you take full advantage of entrepreneurship opportunities in the state. Most financing options are flexible so you can put the proceeds toward startup costs, marketing, inventory, payroll, expansion, or anything else you need to launch or grow.

Quickly compare financing options from multiple funders.

Applying is free and won’t impact your credit

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