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May 16, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Garden City, Business Loans > Garden City State Bank Garden City Business Loans > Farm Machinery And Equipment Manufacturing Loan | ||||
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Garden City SBA Loans
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Local Business Gets a Kansas Business LoanWould a Kansas business loan help your company expand? If so, you may want to talk with this Kansas bank, which offers SBA loans to Kansas entrepreneurs. Getting a small business loan in Garden City, Kansas was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Garden City State Bank. Here are the details on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender GARDEN CITY STATE BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 333111 - Farm Machinery and Equipment Manufacturing Loan Approval Date 6/15/2007 Loan Approval Gross Amount $30,800 Loan Approval from the SBA Of the total $30,800 loan amount, the SBA guaranteed $15,400. More Information on This SBA Loan The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Garden City State 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: Role of Business Plan When Raising Money Find an SBA Lender in Garden City, Kansas
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