Financing for Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing

Looking for loans for lawn and garden tractor and home lawn and garden equipment manufacturing? Talk to a banker who works with the SBA. This $145,000 lawn and garden tractor and home lawn and garden equipment manufacturing loan was issued by a Kansas bank.

This small firm knew how to go about getting a business bank loan. Based in Otis, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was The Nekoma State Bank, based in La Crosse, Kansas.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN EQUIPMENT
OTIS, KS 67565

SBA Loan Lender

THE NEKOMA STATE BANK
801 MAIN ST
LA CROSSE, KS 67548

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3524 - Lawn and Garden Equipment

NAICS Code

333112 - Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

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. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Nekoma State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Small Bank Loans in La Crosse, Kansas

Kansas SBA Banks