El Dorado, Kansas Lender Lends Money to Motor Vehicle Dealers Company

Find El Dorado, Kansas banks that specialize in business loans and know how to work with entrepreneurs. Community National Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
EL DORADO, KS 67042

SBA Loan Lender

COMMUNITY NATIONAL BANK
301 N MAIN
EL DORADO, KS 67042

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

2/11/2003

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 a new 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in El Dorado KS, you ought to talk with a local El Dorado SBA lender or talk with an out-of-area SBA lender that has previously loaned money to El Dorado businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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