Company Gets a Kansas Bank Loan

SBA loans in Kansas are hard to find these days. We take a look at one Kansas SBA loan, provided by a Kansas bank, that was approved by the SBA.

Getting a small business loan in Mcpherson, Kansas was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Of Wichita, Inc. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
MCPHERSON, KS 67460

SBA Loan Lender

COMMUNITY BANK OF WICHITA, INC
11330 E 21ST
WICHITA, KS 67206

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

11/2/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

How to Raise Money

Best Wichita, Kansas Banks for Small Business

SBA Participating Banks in Kansas