Bank Loans for Direct Selling Establishments

Looking for bank loans for direct selling establishments? Talk to a banker who works with the SBA. This $77,800 direct selling establishments loan was issued by a Kansas bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Peoples State Bank, out of Colby, Kansas. The loan was granted and they received $77,800 to help grow their Colby, Kansas business.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
COLBY, KS 67701

SBA Loan Lender

PEOPLES STATE BANK
100 S RANGE
COLBY, KS 67701

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$77,800

Loan Approval from the SBA

Of the total $77,800 loan amount, the SBA guaranteed $66,130.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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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