Local Business Gets a Kansas Small Business Loan

Would a Kansas business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to Kansas entrepreneurs.

This business, based in Wichita, Kansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Loan Center, LLC. We've got the inside scoop on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
WICHITA, KS 67211

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

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 SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

11/26/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job.

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

If you have been wondering how do i get money to start a business in Wichita KS, you ought to talk with a local Wichita SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wichita 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.

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