Business Loan from Landmark National Bank Given to Piece Goods, Notions, And Other Dry Goods Company

Landmark National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kansas entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Manhattan, Kansas was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Landmark National Bank, operating out of Manhattan, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS
MANHATTAN, KS 66502

SBA Loan Lender

LANDMARK NATIONAL BANK
701 POYNTZ AVE
MANHATTAN, KS 66502

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5131 - Piece Goods, Notions, and Other Dry Goods

NAICS Code

313312 - Textile and Fabric Finishing Mills

Loan Approval Date

5/3/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 25 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Landmark 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.

Related Links:

Microlending as a Small Business Funding Source

SBA 7A Banks in Manhattan, Kansas

Getting an SBA Loan in Kansas