Get an SBA Loan for Continuing Care Retirement Communities

Looking for small business loans for continuing care retirement communities? Try the SBA. This $357,500 continuing care retirement communities loan was issued by a Kansas bank.

Getting a small business loan in Inman, Kansas was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Peoples Bank & Trust Co., operating out of Mcpherson, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: INTERMEDIATE CARE FACILITIES
INMAN, KS 67546

SBA Loan Lender

PEOPLES BANK & TRUST CO.
101 S MAIN ST
MCPHERSON, KS 67460

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8052 - Intermediate Care Facilities

NAICS Code

623311 - Continuing Care Retirement Communities

Loan Approval Date

2/21/2006

Loan Approval Gross Amount

$357,500

Loan Approval from the SBA

Of the total $357,500 loan amount, the SBA guaranteed $268,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples Bank & Trust Co. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Choosing VC Firms

Best Banks in Mcpherson, Kansas

SBA Lenders in Kansas