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November 21, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Overland Park, Business Loans > Hillcrest Bank Overland Park Business Loans > Taxicabs Loan | ||||
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Banks in Overland Park, Kansas That Make SBA Loans
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Entrepreneur Works With Overland Park, Kansas Bank to Get an SBA LoanWant to talk with an Overland Park, Kansas bank about a business loan? Here's one Kansas business loan, issued by an Overland Park bank, that was approved by the SBA. Applying for an SBA loan with Hillcrest Bank worked out well for our friends at one local company in Newton, Kansas. The business was able to get an SBA loan for $48,000. Great job! SBA Loan Borrower COMPANY TYPE: TAXICABS SBA Loan Lender HILLCREST BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4121 - Taxicabs NAICS Code 485310 - Taxi Service Loan Approval Date 5/23/2002 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. 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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Good Banks for Small Business in Overland Park, Kansas
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