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November 22, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Great Bend, Business Loans > Community Bank Of The Midwest Great Bend Business Loans > Farm Machinery And Equipment Manufacturing Loan | ||||
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Who Lends Money to Albert Entrepreneurs
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Company Gets a Kansas Small Business LoanKansasSBA loans are available to Kansas entrepreneurs through the SBA. In this case, a Kansas bank provides the loan. Getting a small business loan in Albert, Kansas was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Of The Midwest. Here are the details on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender COMMUNITY BANK OF THE MIDWEST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333111 - Farm Machinery and Equipment Manufacturing Loan Approval Date 1/10/2001 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank Of The Midwest and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Dealing With Venture Capitalists Who Lends Money to Small Businesses in Great Bend, Kansas
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