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Are you looking for Missouri’s best business loans & startup financing companies? For your small business in the Show Me State, many banks, credit unions, and unconventional lenders are offering different loan types. Did you know that half a million small businesses operate in Missouri? Among these, 133k startups are owned by female entrepreneurs.

Understand the unique features and benefits of different loan types to empower your business. That’s how you choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 10 business loans & startup financing options in Iowa to get started. Check our reviews of these lenders to decide which one’s the best option for you:

1. Swoop Funding

Swoop Funding is every Missouri-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process. At Swoop Funding, you can get $5k to $500k as a small business. Moreover, you have to have a credit score of 600+ with the company’s annual revenue being $50k (at least). Even if it’s been 6 months since you started this business, Swoop will consider your loan application!

2. Merrimack Valley Credit Union

You can get ample vehicle/equipment loans at this lender. Also, this lender will let you open a commercial line of credit. They offer you up to 100% financing for the purchase of new or used commercial vehicles and equipment. The loan amount can go from $5k to $100k. If you need to open a commercial line of credit, it goes from $5k to $100k. The interest rates are from 8.75% APR to 10.25% APR.

3. Bank of Missouri

The interest rate at this bank is around 5.69% (on average). Also, the loan amount at this bank is $342,000. You can contact this lender for all the long-term and short-term needs of your small businesses based in the Show Me State. The Bank of Missouri will connect you with the perfect loan type so you can grow your business. You can get commercial real estate loans, too. Also, this lender understands the various needs of farmers and ranchers, offering them agricultural loans.

4. Guaranty Bank & Trust

The average loan amount here is 5.71% while the average loan amount approved by this lender is $444,000. If you need working capital, then you can get in touch with the Guaranty Bank and Trust to get $250k to $5 million as working capital. Also, terms can be as long as 25 years. You can use this funding for the following purposes:

• Real estate purchase or refinance
• New Construction
• Business acquisition or partner buyout
• Medical practice start-up
• Franchise purchase

5. Commerce Bank

The average interest rate at this lender is 4.72% while the payout is just over $290k. If you are interested in real estate investing, then you can consider taking out a loan from this lender. Also, these loans are designed for fixed-asset acquisitions, such as real estate purchases or office equipment of other nature. They offer financing up to $5 million, helping your business grow in a bad economy.

6. Oak Star Bank

Oak Star Bank helps businesses in Missouri and Kansas stay alive & thriving. If you need quick cash in the Show Me State, then get in touch with this local lender. You can easily expand your business, purchase commercial equipment, invest in commercial real estate, and pay vendors with the SBA loans provided by this lender.

7. Royal Banks of Missouri

At the Royal Banks of Missouri, you can easily get commercial term loans. This lender supports local businesses. Missouri-based startups can open a line of credit with the help of the Royal Banks of Missouri. As a local business owner, you can also take out a commercial real estate loan or an agricultural loan. Royal Banks of Missouri will work with you to structure a term loan to match your financial needs. You may contact any of our Relationship Managers to begin your borrowing process.

8. Community Bank of Missouri

If nothing pans out, you can simply reach out to the Community Bank of Missouri for financial assistance. Here’s how this lender will help you out:

• Business or Commercial Property Purchase
• Equipment Purchase 
• Business Purchase
• Expand or Construct Buildings
• Working Capital or Operating Lines of Credit (Inventory Purchase or Accounts Receivable Financing)

9. American Bank of Freedom

The average interest rate is 5.57% (on average). However, the average loan amount that this bank will approve is more than $1.2 million. This bank excels in SBA loans, serving as a prime lender in Eastern Missouri in 2018. There’s no required minimum loan amount under the SBA 7(a) loan program, but many lenders won’t consider loans of less than $100,000. But you should get in touch with the American Bank of Freedom for clarification!

10. Regent Bank

At the Regent Bank, you can get an interest rate of 5.56% (on average). Also, 383,000 dollars is the average loan amount that founders have gotten from this Missouri-based lender. If you apply for 7(a) loans, you must be a wholesale business with up to 100 employees or a manufacturer with up to 500 employees. The loan size approved here is $50k to $2 million. If you’re looking to apply for a 504 loan, still you should look into the Regent Bank as your lender.

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in Missouri in this economy.

Now, choose a lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If nothing makes sense, get in touch with Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly. That’s how you can take your business to new heights of success.