Midland National Bank - Newton Gives Small Business Loan to Limited-Service Restaurants Company

Would a Kansas bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Kansas bank, which offers SBA loans to Kansas entrepreneurs.

Getting a small business loan in Wichita, Kansas was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Midland National Bank - Newton. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
WICHITA, KS 67212

SBA Loan Lender

MIDLAND NATIONAL BANK - NEWTON
527 MAIN ST
NEWTON, KS 67114

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves 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

722211 - Limited-Service Restaurants

Loan Approval Date

3/4/2003

Loan Approval Gross Amount

$146,300

Loan Approval from the SBA

Of the total $146,300 loan amount, the SBA guaranteed $124,355.

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 10 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Midland National Bank - Newton so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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