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April 28, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Overland Park, Business Loans > Hillcrest Bank Overland Park Business Loans > Taxicabs Loan | ||||
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SBA 7A Banks for Wichita Small Business Owners
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Loans for Taxi ServiceWith these loans for taxi service, the SBA guarantees the lender that the loan will be repaid. This taxi service loan for $450,000 was given to a Kansas entrepreneur in 2001. This small firm knew how to go about getting a business bank loan. Based in Wichita, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Hillcrest Bank, based in Overland Park, Kansas. SBA Loan Borrower COMPANY TYPE: TAXICABS SBA Loan Lender HILLCREST BANK 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 business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4121 - Taxicabs NAICS Code 485310 - Taxi Service Loan Approval Date 4/19/2001 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. 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 14 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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: Best Banks for Small Business in Overland Park, Kansas
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