STRICTLY BUSINESS: 350 SBA LOANS HELP CREATE 1,696 JOBS

The U.S. Small Business Administration's primary lending programs have resulted in more than 1,600 new jobs in the 54 counties of eastern Missouri during the first nine months of fiscal 1997.

Some 350 loans, totalling $64,7 million created 1,696 new jobs.

Thirty-three businesses in nine Southeast Missouri counties received $5.5 million in SBA loans, creating 230 new jobs.

Bob Andrews, St. Louis director of the SBA, which serves the eastern portion of Missouri, announced the new totals recently.

SBA loan activity hit record levels in FY1996 of $11.9 billion in loan guarantees, financing more than 64,000 small businesses across the nation.

During that same 1996 fiscal year, the St. Louis office approved 568 loans totaling $98.2 million and creating 2,912 new jobs in 54 counties.

SBA helps new and growing businesses meet financial needs, counsels small companies with problems and helps small businesses to acquire government contracts.

Southeast Missouri

Nine of the FY97 loans have been in Cape Girardeau County, totaling $859,000 and creating 10 new jobs. Stoddard County received five loans, totaling more than $2.3 million and creating 82 new jobs. Five loans in Scott County totaled more than $1.2 million and created 32 new jobs.

Other loans in Southeast Missouri includes two in Bollinger County, $230,000, 15 new jobs; one in Butler County, $21,000, 10 new jobs; three in Dunklin County, $250,000, 43 new jobs; two in Pemiscot County, $250,000, 25 new jobs; four in St. Francois County, $313,000, two new jobs; and two in Ste. Genevieve County, $110,000, one new job.

The lion's share of loans went to the St. Louis metropolitan area. St. Louis County received 91 loans, totalling $18.3 million and creating 568 new jobs. A total of 57 loans were approved in St. Louis city, for $8.8 million and 447 new jobs.

The SBA will help businesses acquire loans up to $1.4 million and has had good cooperation from banking officials.

In response to the small-business community's demand for easier access to business information, the SBA is on the Internet. Its home page may be accessed at http://www.sbaonline.sba.gov.

Top 10 SBA lenders

NationsBank heads the Small Business Administration list of top 10 lending partners during FY1997, in the number of SBA guaranteed loan approvals to small businesses in the St. Louis Eastern Missouri District.

The top 10 lending partners account for more than 46 percent, or $31.5 million in 213 transactions, of all the loan guarantees extended by SBA during 1997 in the 54-county area.

NationsBank has loaned more than $2.9 million in 46 SBA transactions. Other banks and amounts of SBA loans: Mercantile Bank, N.A., $4.2 million in 28 transactions; Commerce Bank of St. Louis, $3.8 million, 25 transactions; First Bank, Creve Coeur, $1.7 million, 23 transactions; AT&T Small Business Lending, $4.2 million, 18 transactions; Allegiant Bank, St. Louis, $3 million, 18 transactions; Central Trust Bank, Jefferson City, $2.5 million, 18; Union Planters Bank of Mid-Missouri, $2.6, 13 transactions; Money Store Investment Corp., $5.3 million, 12 transactions; Eagle Bank & Trust, Hillsboro, $1.2 million, 12 transactions.

All banks are eligible to participate with the SBA.

'Wayward' money

Billions of dollars of "wayward" money in unclaimed property -- pension payments not collected, forgotten stock certificates, government bonds, uncashed tax-refund checks, forgotten bank accounts -- are being held by the federal and state governments and private corporations.

The December issue of "Money" magazine reports that the federal government has as much as $25 billion in unclaimed funds belonging to taxpayers, and that each year Uncle Sam generates a horde of uncashed or undeliverable checks.

The state unclaimed property offices acknowledge having another $23.4 billion in assets, but Money writer Joan Caplin says that figure could be "closer to $35 billion."

Overall, states received about $2 billion a year in unclaimed property. Currently, the unclaimed property list reveals more than $103 million in Missouri; $634 million in Illinois; $58 million in Kentucky, and $129 million in Tennessee.

Missouri returned about $3.1 million within the past year. Illinois returned $34 million to "found" relatives; Tennessee paid out $5.7 million and Kentucky, $1.6 million during the past year.

New York has some mammoth unclaimed property totals at almost $4 billion. Reasoning for these big New York totals is that New York is headquarters to many securities firms.

Experts say that private corporations may be sitting on another $100 billion in unclaimed property, including many uncashed paychecks.

Tracking it down

If you're searching for money that is rightfully yours, you can increase your chances of success. "Money" offers some tips, and telephone numbers.

The federal Pension Benefit Guaranty Corporation currently has more than 4,500 names of people it can't locate, who are owed a total of $10 million. If you think you are due a pension, call 800-400-7242, or search for your name on the agency's Website, search.pbgc.gov.

People may contact unclaimed property offices in any state. Money's report includes state unclaimed office telephone numbers. The Missouri number is (573)-751-0840; Illinois, (217)-785-6995; Kentucky, (502)-564-4722; and Tennessee, (615)-741-6499.

B. Ray Owen is business editor for the Southeast Missourian.