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How Can We Support Small Businesses? 

While big companies grab the big headlines, it is small business that keeps the American economy going.

Forbes magazine reported that “according to the U.S. Small Business Administration (SBA), small businesses of 500 employees or fewer make up 99.9% of all U.S. businesses and 99.7% of firms with paid employees. Of the new jobs created between 1995 and 2020, small businesses accounted for 62%—12.7 million compared to 7.9 million by large enterprises. A 2019 SBA report found that small businesses employ more people and are more resilient when times get tough.”

Main Street is our street too and has been since our founding in 1906. We know that local businesses put money back into their local communities by providing jobs and paying sales and property taxes that support our schools and public services, which is why we offer small business administration loans St. Louis.

Midwest BankCentre has always been there as a partner and trusted advisor to entrepreneurs as they start or scale their businesses. Last year we expanded our SBA commercial banking team to include dedicated team members with specialized expertise with small business loans. In addition, we were named a Preferred Lender by the Small Business Administration which means we can give borrowers the opportunity to achieve their funding goals sooner and more efficiently.  

Main Street business has never been more important to the resilience and vitality of our region. The SBA Preferred Lender status is yet another way we can support our local business owners with sba loans St. Louis.

Originally published in the Small Business Monthly's Ask The Banker Column in April of 2023 by Pete Zeiser, President - Chesterfield Commercial at Midwest BankCentre.