Loan to Buy Lamar's Donuts Franchise Issued By Bank Of Lee's Summit

Need money to buy a Lamar's Donuts franchise? Bank Of Lee's Summit has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Lamar's Donuts franchise may simply require a phone call to a local SBA banker. In 2003, Bank Of Lee's Summit issued an SBA franchise loan to an entrepreneur in Kansas, Missouri. Because Lamar's Donuts was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

LAMAR'S DONUTS
KANSAS, MO 64131

SBA Loan Lender

BANK OF LEE'S SUMMIT
210 S MAIN
LEE'S SUMMIT, MO 64063

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

7/2/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Lamar's Donuts franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of Lee's Summit so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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LaMar's Donuts

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SBA Banks in Lee's Summit, Missouri

SBA Lenders in Missouri