Lawrence, Kansas Business Gets SBA-Guaranteed Funding from Central National Bank

Central National Bank has a track record as a leading provider of SBA loans. Find out how this Kansas entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lawrence, Kansas was able to borrow $325,000 from Central National Bank. The SBA made the loan possible by guaranteeing $243,750 of this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORIES
LAWRENCE, KS 66049

SBA Loan Lender

CENTRAL NATIONAL BANK
711 WAKARUSA DR
LAWRENCE, KS 66049

This lender issued this SBA loan under the SBA's 7A loan, 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.

SIC Code

2389 - Apparel and Accessories

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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