Business Loan from 1st National Bank - Southern Kansas Given to Industrial And Commercial Machinery And Equipment Company

1st National Bank - Southern Kansas is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Kansas entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Wichita, Kansas was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Southern Kansas, operating out of Mount Hope, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
WICHITA, KS 67219

SBA Loan Lender

1ST NATIONAL BANK - SOUTHERN KANSAS
100 N OHIO ST
MOUNT HOPE, KS 67108

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332710 - Machine Shops

Loan Approval Date

1/10/2002

Loan Approval Gross Amount

$573,300

Loan Approval from the SBA

Of the total $573,300 loan amount, the SBA guaranteed $429,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 52 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st National Bank - Southern Kansas and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Best Banks in Mount Hope, Kansas

Kansas SBA 7A Banks