Cimarron, Kansas Lender Lends Money to Manufacturing Industries Company

Get to know Cimarron, Kansas banks that specialize in small business loans and know how to work with entrepreneurs. First National Bank In Cimarron is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Cimarron, Kansas starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First National Bank In Cimarron. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
CIMARRON, KS 67835

SBA Loan Lender

FIRST NATIONAL BANK IN CIMARRON
121 N MAIN ST
CIMARRON, KS 67835

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

Loan Approval Date

3/7/2000

Loan Approval Gross Amount

$82,000

Loan Approval from the SBA

Of the total $82,000 loan amount, the SBA guaranteed $65,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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