Prairie Village, KS Entrepreneur Gets SBA Loan to Buy Planet Sub Franchise

Need a loan to buy a Planet Sub franchise? Security Bank Of Kansas City has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Prairie Village, Kansas needed money to invest in a Planet Sub franchise back in 2003. Security Bank Of Kansas City issued an SBA franchise loan. Here are the details on this Kansas small business loan.

SBA Loan Borrower

PLANET SUB
PRAIRIE VILLAGE, KS 66206

SBA Loan Lender

SECURITY BANK OF KANSAS CITY
ONE SECURITY PLAZA
KANSAS CITY, KS 66101

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$164,555

Loan Approval from the SBA

Of the total $164,555 loan amount, the SBA guaranteed $123,416.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Sub franchise. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

Planet Sub

Strategic Investors

Small Business Banks in Kansas City, Kansas

SBA Participating Banks in Kansas