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December 31, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > Postal Service Loan | ||||
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Kansas City, Missouri SBA Banks
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Entrepreneur Works With Kansas City, Missouri Bank to Get an SBA LoanThinking about meeting with a Kansas City, Missouri bank about a business loan? Here's one Colorado business loan, issued by a Kansas City bank, that was approved by the SBA. Applying for an SBA loan with Commerce Bank worked out well for our friends at one local firm in Englewood, Colorado. The business was able to get an SBA loan for $144,000. Way to go! SBA Loan Borrower COMPANY TYPE: POSTAL SERVICE SBA Loan Lender COMMERCE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 491110 - Postal Service Loan Approval Date 9/3/2002 Loan Approval Gross Amount $144,000 Loan Approval from the SBA Of the total $144,000 loan amount, the SBA guaranteed $122,400. 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 11 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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: SBA 7A Banks for Kansas City, Missouri Loans
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