1st St. Bank - Burlingame Provides SBA Loan to Buy Radio Shack Franchise

Borrowing money to buy a Radio Shack franchise? 1st St. Bank - Burlingame has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Osage City, Kansas needed money to invest in a Radio Shack franchise back in 2002. 1st St. Bank - Burlingame issued an SBA franchise loan. Here are the details on this Kansas small business loan.

SBA Loan Borrower

MCCOY'S HOME FURNISHINGS & MOR
OSAGE CITY, KS 66523

SBA Loan Lender

1ST ST. BANK - BURLINGAME
18 MAIN
OSAGE CITY, KS 66523

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

7/3/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

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.

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