Bank Loans for General Merchandise Stores

Looking for bank loans for general merchandise stores? Try the SBA. This $135,600 general merchandise stores loan was issued by a Kansas bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Security Savings Bank, F.S.B., out of Olathe, Kansas. The loan was granted and they received $135,600 to help grow their Salina, Kansas business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
SALINA, KS 67401

SBA Loan Lender

SECURITY SAVINGS BANK, F.S.B.
11599 RIDGEVIEW RD
OLATHE, KS 66061

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

3/15/2005

Loan Approval Gross Amount

$135,600

Loan Approval from the SBA

Of the total $135,600 loan amount, the SBA guaranteed $115,260.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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

If you are wondering how to raise money for a company in Salina KS, you ought to talk with a local Salina SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Salina businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Security Savings Bank, F.S.B. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Security Savings Bank, F.S.B. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Startup Funding Tip

Small Bank Loans in Olathe, Kansas

SBA Participating Banks in Kansas