Raising Money for Outdoor Power Equipment Stores

With these business loans for outdoor power equipment stores, the SBA guarantees the lender that the loan will be repaid. This outdoor power equipment stores loan for $85,900 was given to a Kansas entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dodge City, Kansas was able to borrow $85,900 from Ford County State Bank. The SBA made the loan possible by guaranteeing $73,015 of this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES
DODGE CITY, KS 67801

SBA Loan Lender

FORD COUNTY STATE BANK
322 N MAIN ST
SPEARVILLE, KS 67876

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5261 - Retail Nurseries, Lawn and Garden Supply Stores

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

2/10/2004

Loan Approval Gross Amount

$85,900

Loan Approval from the SBA

Of the total $85,900 loan amount, the SBA guaranteed $73,015.

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 6 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.

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 Ford County State 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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