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November 15, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Liberal, Business Loans > 1st National Bank - Liberal Liberal Business Loans > Farm Machinery And Equipment Manufacturing Loan | ||||
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Kansas Small Business Funding
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How to Get a Loan for Farm Machinery and Equipment ManufacturingLooking for SBA loans for farm machinery and equipment manufacturing? The SBA may be the answer. This $122,500 farm machinery and equipment manufacturing loan was issued by a Kansas bank. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with 1st National Bank - Liberal, out of Liberal, Kansas. The loan was granted and they received $122,500 to help grow their Hugoton, Kansas business. SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender 1ST NATIONAL BANK - LIBERAL This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333111 - Farm Machinery and Equipment Manufacturing Loan Approval Date 5/29/2007 Loan Approval Gross Amount $122,500 Loan Approval from the SBA Of the total $122,500 loan amount, the SBA guaranteed $104,125. 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 4 employees. The SBA loan application for the borrower indicated that the funding would help create 4 new jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 1st National Bank - Liberal 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Lenders in Liberal, Kansas
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