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November 15, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Mcdonald, Business Loans > Peoples State Bank Mcdonald Business Loans > Hardware Stores Loan | ||||
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How to Get an SBA 7A Loan in Colby, Kansas
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Local Business Gets a Kansas Business LoanWould a Kansas business loan help your company expand? If so, you may want to talk with this Kansas bank, which offers SBA loans to Kansas entrepreneurs. This company, based in Colby, Kansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Peoples State Bank. We've got the inside scoop on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender PEOPLES STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5251 - Hardware Stores NAICS Code 444130 - Hardware Stores Loan Approval Date 6/30/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for 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 small business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Realistic Debt Financing Options Small Bank Loans in Mcdonald, Kansas
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