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April 18, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Winfield, Business Loans > Cornerbank Winfield Business Loans > Line-X Of Lawrence, Inc. Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Olathe, KS Entrepreneur Gets SBA Loan to Buy Line-X FranchiseNeed a loan to buy a Line-X franchise? Cornerbank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Line-X franchise? If so, here's a 2005 SBA franchise loan that you should know about. Cornerbank was the lender and the entrepreneur was based in Olathe, Kansas. SBA Loan Borrower LINE-X OF LAWRENCE, INC. SBA Loan Lender CORNERBANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332812 - Metal Coating, Engraving and Allied Services Loan Approval Date 3/23/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Line-X franchise. At the time of the loan, the company had 2 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. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cornerbank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Good Banks for Small Business in Winfield, Kansas
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