Melvern, Kansas Business Gets SBA-Guaranteed Funding from Lyndon State Bank

Lyndon State 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.

This small firm knew how to go about getting a business bank loan. Based in Melvern, Kansas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Lyndon State Bank, based in Lyndon, Kansas.

SBA Loan Borrower

COMPANY TYPE: MARINAS
MELVERN, KS 66510

SBA Loan Lender

LYNDON STATE BANK
817 TOPEKA
LYNDON, KS 66451

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.

SIC Code

4493 - Marinas

NAICS Code

713930 - Marinas

Loan Approval Date

6/28/2000

Loan Approval Gross Amount

$100,500

Loan Approval from the SBA

Of the total $100,500 loan amount, the SBA guaranteed $75,375.

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 8 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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