Borrowing Money for Store Retailers

Looking for loans for store retailers? The SBA may be the answer. This $61,000 store retailers loan was issued by a Kansas bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Halstead Bank, out of Halstead, Kansas. The loan was granted and they received $61,000 to help grow their Halstead, Kansas business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
HALSTEAD, KS 67056

SBA Loan Lender

THE HALSTEAD BANK
314 MAIN ST
HALSTEAD, KS 67056

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.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453998 - Store Retailers

Loan Approval Date

10/26/2000

Loan Approval Gross Amount

$61,000

Loan Approval from the SBA

Of the total $61,000 loan amount, the SBA guaranteed $48,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Halstead KS, you ought to talk with a local Halstead SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Halstead businesses.

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:

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SBA 7A Lenders in Halstead, Kansas

Find an SBA Lender in Kansas