SBA Loan from Intrust Bank Helps Sound Recording Industries Company

Intrust Bank 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 2003 and, based on their loan application, they were successful in getting an SBA loan from Intrust Bank, operating out of Haysville, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: SOUND RECORDING INDUSTRIES
WICHITA, KS 67208

SBA Loan Lender

INTRUST BANK
107 S WAYNE ST
HAYSVILLE, KS 67060

This was a Low Documentation SBA loan. The SBA launched this program to reduce 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

512290 - Sound Recording Industries

Loan Approval Date

6/20/2003

Loan Approval Gross Amount

$10,500

Loan Approval from the SBA

Of the total $10,500 loan amount, the SBA guaranteed $8,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Intrust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Banking Deregulation's Effects on Entrepreneurship

Where to Get an SBA Loan in Haysville, Kansas

SBA Lenders in Kansas