Lawrence, Kansas Business Gets SBA-Guaranteed Funding from Capital City Bank

An SBA loan from Capital City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lawrence, Kansas business owner got a $308,100 loan.

Getting a small business loan in Lawrence, Kansas was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Capital City Bank, operating out of Lawrence, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
LAWRENCE, KS 66046

SBA Loan Lender

CAPITAL CITY BANK
4000 W 6TH
LAWRENCE, KS 66049

This lender issued this commercial 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

1731 - Electrical Work

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

5/14/2004

Loan Approval Gross Amount

$308,100

Loan Approval from the SBA

Of the total $308,100 loan amount, the SBA guaranteed $231,075.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Role of Business Plan When Raising Money

Who Lends Money to Small Businesses in Lawrence, Kansas

SBA Kansas Banks