Where to Get Capital for Yarn Spinning Mills

Looking for small business loans for yarn spinning mills? Talk to a banker who works with the SBA. This $16,400 yarn spinning mills loan was issued by a Kansas bank.

This company knew how to go about getting a business bank loan. Based in Phillipsburg, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The Farmers National Bank, based in Phillipsburg, Kansas.

SBA Loan Borrower

COMPANY TYPE: YARN SPINNING MILLS
PHILLIPSBURG, KS 67661

SBA Loan Lender

THE FARMERS NATIONAL BANK
759 STATE ST
PHILLIPSBURG, KS 67661

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

313111 - Yarn Spinning Mills

Loan Approval Date

12/8/2004

Loan Approval Gross Amount

$16,400

Loan Approval from the SBA

Of the total $16,400 loan amount, the SBA guaranteed $13,940.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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

Don't forget. To get an SBA loan, you must 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've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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SBA 7A Banks in Phillipsburg, Kansas

Kansas SBA Banks