YOUR BUSINESS AUTHORITY

Springfield, MO

There’s a new leader in local SBA lending

Posted online

Simmons First National Corp. (Nasdaq: SFNC) was dethroned as the Springfield-area market leader in U.S. Small Business Administration-backed loans after an 18-year run at the top.

For fiscal 2017 ended Sept. 30, OakStar Bank led in both total loan volume and number of loans, according to data provided by SBA’s Kansas City office showing the top 10 SBA lenders in the five-county Springfield MSA, ranked by total loan value. OakStar issued 43 SBA-backed loans worth a combined $15.3 million during fiscal 2017. However, that’s down from $22.5 million loaned in fiscal 2016, when the bank trailed only Simmons.

Simmons slid to No. 3 with 33 loans totaling $9.8 million. Simmons Bank in 2015 acquired Liberty Bancshares Inc., continuing the company’s SBA lending lead in the Springfield metropolitan statistical area between 1998 and fiscal 2016, according to Springfield Business Journal reporting and list research.

At No. 2, Jefferson City-based Rural Missouri Inc. issued 17 loans in the Springfield market totaling $12.6 million, according to the SBA.

The fiscal 2017 top 10 SBA lenders in the Springfield MSA, by total loan value, are:
    •    OakStar, $15.3 million;
    •    Rural Missouri, $12.6 million;
    •    Simmons, $9.8 million;
    •    Guaranty Bank, $5.7 million;
    •    The Bank of Missouri, $4.6 million;
    •    Springfield First Community Bank, $3.3 million;
    •    BancorpSouth, $2.7 million;
    •    Southern Bank, $2.5 million;
    •    St. Charles County Economic Development Council, $923,000; and
    •    Mid-Missouri Bank, $782,000.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Startup Corner: Eden Garrett, Eden’s Flower Truck

The 21-year-old is working to graduate in May while cultivating her small business.

Most Read
SBJ Live logo
MOST-WATCHED VIDEOS
Need to Focus Leads to Sale of Business

“It’s been hard for me to choose. There is a point when I knew I needed to focus on one of these businesses,” says Elle Feldman, owner of Elle’s Patisserie and Lavare Spa (now rebranded as …

My Mentor - My Teammate in Life “He was a strong man of faith and courage and very wise - my biggest supporter in any endeavor in life,” says Tami North, Executive Director of the Rogersville Area Chamber of Commerce and one of …
From Cutbacks to Cutting Tracks “Every day you’ve gotta wake up and say, ‘I’ve gotta make money today,’ says, Ricky Smiley, Founder and Producer of Smiley Records, LLC. When Smiley was laid off from a job he held for 18 …
Consistent Marketing  “Marketing for a company can be very interesting, in the sense that it’s hard to stand out in the crowd from everyone else,” says Alisa Lawler, Vice President of Marketing and Business …
Booked - The 7 Habits of Highly Effective People “I think it’s a really great book and I wish I had read it earlier in my career,” says Candida Deckard, the Director of Human Resources and Safety at CNH Industrial Reman and one of Springfield …