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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 > National Bank Of Kansas City Overland Park Business Loans > Services To Buildings And Dwellings Loan | ||||
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SBA 7A Banks That Lend to Olathe Small Businesses
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Olathe, Kansas Entrepreneur Gets a Small Business LoanKansasSmall business loans are available to Kansas small business owners through the SBA. In this case, a Kansas bank provides the loan. This business, based in Olathe, Kansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from National Bank Of Kansas City. We've got the inside scoop on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS SBA Loan Lender NATIONAL BANK OF KANSAS CITY Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561790 - Services to Buildings and Dwellings Loan Approval Date 3/29/2005 Loan Approval Gross Amount $58,000 Loan Approval from the SBA Of the total $58,000 loan amount, the SBA guaranteed $49,300. 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 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Where to Get an SBA Loan in Overland Park, Kansas
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