M&i Marshall & Ilsley Bank SBA Loan to Flooring Contractors Company

An SBA loan from M&i Marshall & Ilsley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Olathe, Kansas business owner got a $196,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Olathe, Kansas was able to borrow $196,500 from M&i Marshall & Ilsley Bank. The SBA made the loan possible by guaranteeing $98,250 of this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOORING CONTRACTORS
OLATHE, KS 66062

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
11301 NALL AVE
LEAWOOD, KS 66211

This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238330 - Flooring Contractors

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$196,500

Loan Approval from the SBA

Of the total $196,500 loan amount, the SBA guaranteed $98,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 9 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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