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May 4, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Wichita, Business Loans > Farmers & Merchants State Bank Wichita Business Loans > Specialized Long-Distance Freight Trucking Loan | ||||
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Farmers & Merchants State Bank
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SBA Loan from Farmers & Merchants State Bank Helps Specialized Long-Distance Freight Trucking CompanyFarmers & Merchants State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kansas entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway Springs, Kansas was able to borrow $97,000 from Farmers & Merchants State Bank. The SBA made the loan possible by guaranteeing $82,450 of this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender FARMERS & MERCHANTS STATE BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484230 - Specialized Long-Distance Freight Trucking Loan Approval Date 12/1/2003 Loan Approval Gross Amount $97,000 Loan Approval from the SBA Of the total $97,000 loan amount, the SBA guaranteed $82,450. 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Wichita, Kansas Getting a Business Loan in Kansas
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