Entrepreneur Works With Mcpherson, Kansas Bank to Get an SBA Loan

Thinking about meeting with a Mcpherson, Kansas bank about a business loan? Here's one Kansas business loan, issued by a Mcpherson bank, that was approved by the SBA.

Applying for an SBA loan with Peoples Bank & Trust Co. worked out well for our friends at one local company in South Hutchinson, Kansas. The business was able to get an SBA loan for $420,000. Great job!

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
SOUTH HUTCHINSON, KS 67505

SBA Loan Lender

PEOPLES BANK & TRUST CO.
101 S MAIN ST
MCPHERSON, KS 67460

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

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 3 employees. The SBA loan documents did not indicate that the company 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?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $420,000 loan. Remember, things become real when you believe you can achieve them!

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:

Debt Financing

SBA Participating Banks in Mcpherson, Kansas

Kansas SBA 7A Lenders