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November 15, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Goodland, Business Loans > Bankwest Of Kansas Goodland Business Loans > Meat Markets Loan | ||||
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How to Get a Small Business Loan in Colby, Kansas
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Bankwest Of Kansas Gives Small Business Loan to Meat Markets CompanyKansasSmall business loans are available to Kansas small business owners through the SBA. In this case, a Kansas bank provides the loan. This business, 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 Bankwest Of Kansas. We've got the inside scoop on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: MEAT MARKETS SBA Loan Lender BANKWEST OF KANSAS This lender issued this particular SBA bank loan 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 445210 - Meat Markets Loan Approval Date 12/31/2003 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. 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 2 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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. Related Links: The Friends and Family Network Best Banks in Goodland, Kansas
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