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May 10, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Parsons, Business Loans > Teambank Parsons Business Loans > Retail Bakeries Loan | ||||
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Getting an SBA Loan in Parsons, Kansas
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Parsons, Kansas Entrepreneur Gets an SBA LoanKansasBank loans are available to Kansas firms through the SBA. In this case, a Kansas bank provides the loan. This small business, based in Parsons, Kansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Teambank. We've got the inside scoop on this Kansas small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender TEAMBANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311811 - Retail Bakeries Loan Approval Date 6/6/2001 Loan Approval Gross Amount $143,000 Loan Approval from the SBA Of the total $143,000 loan amount, the SBA guaranteed $121,550. More Information on This SBA Loan The borrower borrowed this money for a new 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 9 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Good Banks for Small Business in Parsons, Kansas
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