Connect me to a Springfield lender!
Small business loans are available from many SBA lenders. Here are the most active Springfield SBA lenders:
Top SBA Lenders in Springfield
| Rank | SBA Lender | SBA Lender HQs | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | OakStar Bank | Springfield, MO | 51 | $967,800 | 10.2% |
| 2 | Regent Bank | Tulsa, OK | 25 | $577,844 | 10.1% |
| 3 | U.S. Bank | Cincinnati, OH | 24 | $130,158 | 9.6% |
| 4 | Huntington Bank | Columbus, OH | 7 | $1,006,071 | 10.2% |
| 5 | Commerce Bank | Kansas City, MO | 6 | $968,217 | 8.3% |
| 6 | The Bank of Missouri | Perryville, MO | 6 | $529,233 | 9.5% |
| 7 | Readycap Lending, LLC | Berkeley Heights, NJ | 6 | $87,000 | 14.0% |
| 8 | Southern Bank | Poplar Bluff, MO | 5 | $214,380 | 10.5% |
| 9 | Encore Bank | Little Rock, AR | 4 | $1,109,000 | 10.2% |
| 10 | UMB Bank | Kansas City, MO | 3 | $350,000 | 8.8% |
| 11 | Legacy Bank & Trust | Mt. Grove, MO | 3 | $200,000 | 10.1% |
| 12 | United Midwest Savings Bank | De Graff, OH | 2 | $3,715,000 | 10.0% |
| 13 | Guaranty Bank | Springfield, MO | 2 | $784,600 | 9.9% |
| 14 | Heritage Bank of the Ozarks | Lebanon, MO | 2 | $424,350 | 8.8% |
| 15 | BayFirst National Bank | Saint Petersburg, FL | 2 | $150,000 | 12.8% |
| 16 | Northeast Bank | Lewiston, ME | 2 | $125,000 | 10.8% |
| 17 | Celtic Bank | Salt Lake City, UT | 2 | $112,500 | 10.8% |
Top Industries for SBA Loans in Springfield
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 11 | Baked Goods Retailers | 2 | $971,000 | 9.8% |
| 19 | Barber Shops | 2 | $70,700 | 10.3% |
| 5 | Carpet and Upholstery Cleaning Services | 2 | $899,900 | 8.7% |
| 19 | Convenience Retailers | 2 | $145,350 | 10.3% |
| 10 | Educational Support Services | 2 | $107,500 | 12.3% |
| 19 | Gasoline Stations with Convenience Stores | 2 | $1,150,000 | 8.9% |
| 1 | Oil and Gas Pipeline and Related Structures Construction | 2 | $125,000 | 7.7% |
| 17 | Other Building Finishing Contractors | 3 | $330,833 | 11.0% |
| 13 | Other Management Consulting Services | 3 | $375,000 | 9.8% |
| 10 | Portfolio Management and Investment Advice | 2 | $797,100 | 9.3% |
Many entrepreneurs search SbaLenders.com for “business loans near me” or “SBA lenders near me,” but the reality is often times the best banks for Springfield SBA loans are not local but national SBA preferred lenders. Connect with us and we can connect you today with local or national SBA banks that are small business loan experts.
Connect me to a Springfield lender!
Introduction
Springfield, Missouri is a hub for entrepreneurs and small business owners who are driving the city’s economic growth. Whether launching a new venture or scaling an existing operation, SBA loans in Springfield, MO provide the flexible, affordable financing many businesses need. Backed by the U.S. Small Business Administration, these loans help local businesses access capital that might not be available through conventional lending channels.
SBA Lending in Springfield MO: Last Year Overview
Springfield’s small business lending environment remains strong, with solid SBA loan activity reported over the last year. According to the data:
- Total SBA Loans Issued: $97,334,700
- Number of SBA Loans: 132
- Average Loan Amount: $737,388
- Average Interest Rate: 7.68%
- Jobs Supported: 1,182
Springfield earned a respectable #73 ranking nationally on SBAlenders.com, demonstrating the city’s ongoing commitment to supporting small business growth.
Success Stories of Small Businesses in Springfield MO
These five Springfield businesses led the way in job creation through SBA funding in 2023:
- Ozark Valley Freight Co. – 152 jobs supported
- Heartland Surgical Supply, LLC – 139 jobs supported
- Queen City Logistics Group – 121 jobs supported
- Show-Me Specialty Foods, Inc. – 109 jobs supported
- Route 66 Technology Solutions – 97 jobs supported
Their success highlights how SBA loans can fuel local job creation and business expansion.
Overview of SBA Loan Program in Springfield MO
The SBA 7(a) loan program is the most commonly used by Springfield business owners, offering flexibility and broad usage options. Key features include:
- Loan Amounts: Up to $5 million
- Terms: 10 years for working capital/equipment; 25 years for real estate
- Down Payment: Typically 10%–20%
- Use of Proceeds: Buy a business, purchase equipment, real estate acquisition, working capital
- Ideal Credit Score: 680+
- Collateral: Not always required; lenders secure available assets
- Interest Rates: Slightly above conventional loan rates – view SBA interest rates
- Cash Flow Requirement: EBITDA must cover at least 115% of loan payments – use the SBA loan payment calculator to estimate
Compared to traditional loans, SBA loans offer lower down payments, longer terms, and reduced collateral requirements. For more info, see SBA loans vs conventional loans.
Surrounding Areas
Springfield’s economic influence reaches across southwest Missouri. Nearby cities and towns include:
- Branson
- Bolivar
- Carthage
- Cassville
- Hollister
- Joplin
- Lebanon
- Marshfield
- Monett
- Mount Vernon
- Nixa
- Ozark
- Republic
- Rogersville
- Willard
Resources for Small Businesses in Springfield MO
Local entrepreneurs have access to a wide range of business support services:
- SBA Kansas City District Office (serving Springfield) – SBA loan assistance and program information
- Missouri SBDC at Missouri State University – Offers consulting, training, and startup support
- Springfield SCORE Chapter – Free mentoring and business development workshops
- Springfield Area Chamber of Commerce – Networking and advocacy for small business
- efactory (Missouri State University) – Business incubator and entrepreneurship support center
SBA Lenders in Springfield MO
For many small business owners in Springfield, qualifying for traditional loans can be a challenge. That’s where SBA loans shine. Backed by federal guarantees, these loans give banks more flexibility in approving funding for growing businesses.
Most SBA lenders in Springfield are experienced with both startups and established companies and can expedite applications for faster access to funds. Whether you’re looking to purchase equipment, expand your space, or boost cash flow, SBA loans provide a smart and secure financing option.
Looking for SBA loans near me in Springfield MO? Use the tool below to connect with the most active SBA lenders in the area:
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 11 | Baked Goods Retailers | 2 | $971,000 | 9.8% |
| 19 | Barber Shops | 2 | $70,700 | 10.3% |
| 5 | Carpet and Upholstery Cleaning Services | 2 | $899,900 | 8.7% |
| 19 | Convenience Retailers | 2 | $145,350 | 10.3% |
| 10 | Educational Support Services | 2 | $107,500 | 12.3% |
| 19 | Gasoline Stations with Convenience Stores | 2 | $1,150,000 | 8.9% |
| 1 | Oil and Gas Pipeline and Related Structures Construction | 2 | $125,000 | 7.7% |
| 17 | Other Building Finishing Contractors | 3 | $330,833 | 11.0% |
| 13 | Other Management Consulting Services | 3 | $375,000 | 9.8% |
| 10 | Portfolio Management and Investment Advice | 2 | $797,100 | 9.3% |
Summary
Springfield MO continues to be a strong market for SBA lending, helping local entrepreneurs access capital with less risk and better terms. Whether you’re expanding operations, hiring new staff, or investing in infrastructure, SBA loans offer a clear path to business growth. Start your journey today with top SBA lenders in Springfield MO.