Salina, Kansas Lender Lends Money to Paint, Varnish, And Supplies Merchant Wholesalers Company

Want to talk with a Salina, Kansas bank about an SBA loan? Here's one Colorado business loan, issued by a Salina bank, that was approved by the SBA.

Applying for an SBA loan with Sunflower Bank worked out well for our friends at one local firm in Canon City, Colorado. They received an SBA loan for $53,300. Nice!

SBA Loan Borrower

COMPANY TYPE: PAINT, VARNISH, AND SUPPLIES MERCHANT WHOLESALERS
CANON CITY, CO 81212

SBA Loan Lender

SUNFLOWER BANK
2090 S OHIO ST
SALINA, KS 67401

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424950 - Paint, Varnish, and Supplies Merchant Wholesalers

Loan Approval Date

2/1/2007

Loan Approval Gross Amount

$53,300

Loan Approval from the SBA

Of the total $53,300 loan amount, the SBA guaranteed $26,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Sunflower Bank 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.

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