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November 15, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Hutchinson, Business Loans > Peoples Bank & Trust Co. Hutchinson Business Loans > General Automotive Repair Shops Loan | ||||
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How to Get SBA Money in Hutchinson, Kansas
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Firm Gets a Kansas Bank LoanSearching for a Kansas small business loan? This Kansas entrepreneur got a small business loan, provided by a Kansas bank that works with the SBA to help small business owners. By giving the right information to Peoples Bank & Trust Co., this Hutchinson, Kansas business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender PEOPLES BANK & TRUST CO. This was a Low Documentation SBA loan. The SBA started this program to reduce 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. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 1/6/2000 Loan Approval Gross Amount $139,300 Loan Approval from the SBA Of the total $139,300 loan amount, the SBA guaranteed $104,475. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Peoples Bank & Trust Co. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Peoples Bank & Trust Co. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Banks in Hutchinson, Kansas
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