Mcpherson, Kansas Bank Gives SBA Loan to Used Merchandise Stores Company

A Mcpherson, Kansas small business loan can be yours. Learn how one firm got a $46,300 business loan from this Kansas bank.

This loan to a local firm is a good example of an SBA loan. Peoples Bank & Trust Co. made the loan and the SBA guaranteed a portion of the loan. Many other Kansas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
MCPHERSON, KS 67460

SBA Loan Lender

PEOPLES BANK & TRUST CO.
101 S MAIN ST
MCPHERSON, KS 67460

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

453310 - Used Merchandise Stores

Loan Approval Date

4/26/2002

Loan Approval Gross Amount

$46,300

Loan Approval from the SBA

Of the total $46,300 loan amount, the SBA guaranteed $39,355.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $46,300 loan. Remember, you control your own destiny.

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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