Member News is a monthly blog post dedicated to sharing Chamber members’ upcoming events or major news. If you have something to share, email the Chamber’s Director of Communications and Marketing, Samantha Chandler, at Samantha@ComoChamber.com.
Boone County Entrepreneur & Small Business Resource Partners,
Here is a breakdown of US Small Business Administration (SBA) 7(a) loan approvals for fiscal year 2024 (Oct. 1, 2023 – Sept. 30, 2024). I’m pleased to announce that for the third year in a row, Central Bank of Boone County (A division of The Central Trust Bank) was the market leader in SBA 7(a) loan approvals for Boone County.
SBA 7(a) Loan Approvals Boone County MO FY 2024
| Lender | Lender State | # Approved Loans | $ Approved Loans |
| The Central Trust Bank | MO | 22 | $3,378,800 |
Overall there were 8 fewer SBA 7(a) loans approved, however an additional $278,800 in total dollars were approved compared to FY 2023.
SBA 7(a) Loan Approvals Boone County MO FY 2023
| Lender | Lender State | # Approved Loans | $ Approved Loans |
| The Central Trust Bank | MO | 30 | $3,324,800.00 |
While the FY 2024 approvals report does not provide a breakdown for each lender, I can report that of the 22 SBA 7(a) loans that Central Bank of Boone County processed in Boone County: 13 were to Women Owned Businesses, 4 to Minority Owned Businesses, and 2 Veteran Owned Businesses. Additionally, these borrowers reported that they would create 77 new jobs and saved 81 jobs by receiving these SBA 7(a) loans. Statewide The Central Trust Bank had the 5th most SBA 7(a) approvals with 38 loans for $6,529,700 of 139 different SBA lenders in the state.
