Kansas Bank Loan Issued to Landscaping Services Company

Would a Kansas small business loan help your small business to grow and prosper? If so, you may want to talk with this Kansas bank, which offers SBA loans to Kansas entrepreneurs.

This business, based in Manhattan, Kansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Community First National Bank. We've got the inside scoop on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
MANHATTAN, KS 66502

SBA Loan Lender

COMMUNITY FIRST NATIONAL BANK
215 S SETH CHILD RD
MANHATTAN, KS 66502

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

6/4/2004

Loan Approval Gross Amount

$8,100

Loan Approval from the SBA

Of the total $8,100 loan amount, the SBA guaranteed $6,885.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community First National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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