Hillsboro, Kansas Bank Gives SBA Loan to Motor Vehicle Brake System Manufacturing Company

Thinking about meeting with a Hillsboro, Kansas bank about a business loan? Here's one Kansas business loan, issued by a Hillsboro bank, that was approved by the SBA.

Applying for an SBA loan with Emprise Bank worked out well for our friends at one local company in Hillsboro, Kansas. They got an SBA loan for $100,000. Great job!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE BRAKE SYSTEM MANUFACTURING
HILLSBORO, KS 67063

SBA Loan Lender

EMPRISE BANK
104 E GRAND
HILLSBORO, KS 67063

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336340 - Motor Vehicle Brake System Manufacturing

Loan Approval Date

2/25/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Emprise 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:

Accountant's Role in Securing Financing

Best Banks for Small Business in Hillsboro, Kansas

Kansas SBA 7A Banks