Lenexa, Kansas Entrepreneur Gets a Small Business Loan

SBA loans in Kansas are tough to come by these days. We take a look at one Kansas SBA loan, provided by a Kansas bank, that was approved by the SBA.

Getting a small business loan in Lenexa, Kansas was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Ola. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR RESIDENTIAL BUILDINGS
LENEXA, KS 66215

SBA Loan Lender

1ST NATIONAL BANK - OLA
444 E SANTA FE
OLATHE, KS 66061

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

1522 - General Contracting for Residential Buildings

NAICS Code

233220 - Multifamily Housing Construction

Loan Approval Date

6/8/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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