SBA Loan from Montezuma State Bank Helps Automotive Services Company

Montezuma 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.

Getting a small business loan in Montezuma, Kansas was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Montezuma State Bank, operating out of Montezuma, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
MONTEZUMA, KS 67867

SBA Loan Lender

MONTEZUMA STATE BANK
209 N AZTEC
MONTEZUMA, KS 67867

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

10/25/2000

Loan Approval Gross Amount

$109,700

Loan Approval from the SBA

Of the total $109,700 loan amount, the SBA guaranteed $82,275.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Investor Turnoffs

Small Bank Loans in Montezuma, Kansas

Kansas SBA 7A Banks