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May 5, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Olathe, Business Loans > 1st National Bank - Ola Olathe Business Loans > Personal Services Loan | ||||
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We Needed a Small Business Loan in Leawood, Kansas and We Got One!
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Small Business Loans for Personal ServicesLooking for small business loans for personal services? The SBA may be the answer. This $106,500 personal services loan was issued by a Kansas bank. Getting a small business loan in Leawood, Kansas was important for this company back in 2008 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Ola, operating out of Olathe, Kansas. Here are the details on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender 1ST NATIONAL BANK - OLA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812990 - Personal Services Loan Approval Date 1/8/2008 Loan Approval Gross Amount $106,500 Loan Approval from the SBA Of the total $106,500 loan amount, the SBA guaranteed $53,250. 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 SBA loan documents indicated that the loan would help generate 10 new jobs and retain 11 existing jobs. Next Steps for Getting an SBA Loan If you are raising money in Leawood KS, you ought to talk with a local Leawood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Leawood 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. Related Links: Advice on Getting a Small Business Loan Find an SBA Lender in Olathe, Kansas
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