Eudora, Kansas Business Gets SBA-Guaranteed Funding from Douglas County Bank

An SBA loan from Douglas County Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eudora, Kansas business owner got a $75,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Eudora, Kansas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Douglas County Bank, based in Lawrence, Kansas.

SBA Loan Borrower

COMPANY TYPE: DISCOUNT DEPARTMENT STORES
EUDORA, KS 66025

SBA Loan Lender

DOUGLAS COUNTY BANK
300 W 9TH
LAWRENCE, KS 66044

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452112 - Discount Department Stores

Loan Approval Date

4/15/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Douglas County 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.

Related Links:

Getting a Small Business Loan

SBA Participating Banks in Lawrence, Kansas

Getting a Business Loan in Kansas