Entrepreneur Works With Mcdonald, Kansas Bank to Get an SBA Loan

Thinking about meeting with a Mcdonald, Kansas bank about a small business loan? Here's one Kansas business loan, issued by a Mcdonald bank, that was approved by the SBA.

Applying for an SBA loan with Peoples State Bank worked out well for our friends at one local firm in Mc Donald, Kansas. They got an SBA loan for $90,700. Awesome!

SBA Loan Borrower

COMPANY TYPE: CROP HARVESTING, PRIMARILY BY MACHINE
MC DONALD, KS 67745

SBA Loan Lender

PEOPLES STATE BANK
304 RAWLINS AVE
MCDONALD, KS 67745

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0722 - Crop Harvesting, Primarily by Machine

NAICS Code

115113 - Crop Harvesting, Primarily by Machine

Loan Approval Date

6/28/2001

Loan Approval Gross Amount

$90,700

Loan Approval from the SBA

Of the total $90,700 loan amount, the SBA guaranteed $77,095.

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 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

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

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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