Kansas City, Missouri Bank Gives SBA Loan to Full-Service Restaurants Company

Find Kansas City, Missouri banks that specialize in business loans and know how to work with entrepreneurs. Umb Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Olathe, Kansas starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Umb Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OLATHE, KS 66212

SBA Loan Lender

UMB BANK
1010 GRAND BLVD
KANSAS CITY, MO 64106

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

722110 - Full-Service Restaurants

Loan Approval Date

2/17/2005

Loan Approval Gross Amount

$82,500

Loan Approval from the SBA

Of the total $82,500 loan amount, the SBA guaranteed $70,125.

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 6 employees. The loan application did not indicate that the small business 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 can help you find the best banks for small businesses in Olathe or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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