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November 22, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Great Bend, Business Loans > Community Bank Of The Midwest Great Bend Business Loans > Oil And Gas Field Services Loan | ||||
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Raising Money in Ellinwood, Kansas With SBA Loans
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Raising Money for Support Activities for Oil and Gas OperationsWith these business loans for support activities for oil and gas operations, the SBA guarantees the lender that the loan will be repaid. This support activities for oil and gas operations loan for $220,800 was given to a Kansas entrepreneur in 2006. This small business knew how to go about getting a business bank loan. Based in Ellinwood, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Community Bank Of The Midwest, based in Great Bend, Kansas. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD SERVICES SBA Loan Lender COMMUNITY BANK OF THE MIDWEST The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1389 - Oil and Gas Field Services NAICS Code 213112 - Support Activities for Oil and Gas Operations Loan Approval Date 5/3/2006 Loan Approval Gross Amount $220,800 Loan Approval from the SBA Of the total $220,800 loan amount, the SBA guaranteed $165,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Of The Midwest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Of The Midwest 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. Related Links: SBA Participating Banks in Great Bend, Kansas
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