Sedan, Kansas Business Gets SBA-Guaranteed Funding from Arvest Bank

Arvest Bank has a track record as a leading provider of SBA loans. Find out how this Kansas entrepreneur received an SBA loan from them.

Getting a small business loan in Sedan, Kansas was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Arvest Bank, operating out of Caney, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
SEDAN, KS 67361

SBA Loan Lender

ARVEST BANK
301 W 4TH AVE
CANEY, KS 67333

This was a Low Documentation SBA loan. The SBA launched 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. 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

453310 - Used Merchandise Stores

Loan Approval Date

8/21/2002

Loan Approval Gross Amount

$13,000

Loan Approval from the SBA

Of the total $13,000 loan amount, the SBA guaranteed $11,050.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Sedan KS, you ought to talk with a local Sedan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sedan businesses.

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:

SBIR Funding

Good Banks for Small Business in Caney, Kansas

Kansas SBA Bank Lenders