Business Loan from 1st National Bank - Ola Given to Poultry And Poultry Products Company

1st National Bank - Ola is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Missouri entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Kansas City, Missouri, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was 1st National Bank - Ola, based in Olathe, Kansas.

SBA Loan Borrower

COMPANY TYPE: POULTRY AND POULTRY PRODUCTS
KANSAS CITY, MO 64127

SBA Loan Lender

1ST NATIONAL BANK - OLA
444 E SANTA FE
OLATHE, KS 66061

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5144 - Poultry and Poultry Products

NAICS Code

422440 - Poultry and Poultry Product Wholesalers

Loan Approval Date

5/8/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Kansas City MO, you ought to talk with a local Kansas City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kansas City businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Cash Advances

Small Bank Loans in Olathe, Kansas

Kansas SBA Banks