Financing for Nursing Care Facilities

Looking for commercial loans for nursing care facilities? Try the SBA. This $116,000 nursing care facilities loan was issued by a Kansas bank.

This business knew how to go about getting a business bank loan. Based in Hill City, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Farmers & Merchants Bank - Hill, based in Hill City, Kansas.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
HILL CITY, KS 67642

SBA Loan Lender

FARMERS & MERCHANTS BANK - HILL
120 E MAIN ST
HILL CITY, KS 67642

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

3/31/2003

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $98,600.

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 8 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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