Union State Bank Provides SBA Loan to Buy Sears Catalog Store Franchise

Borrowing money to purchase a Sears Catalog Store franchise? Union State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sears Catalog Store franchise shouldn't be too tough. In 2003, Union State Bank issued an SBA franchise loan to an entrepreneur in Winfield, Kansas. Because Sears Catalog Store was registered with the SBA's registry of franchises, this Kansas small business loan was issued on an expedited basis.

SBA Loan Borrower

SEARS-WINFIELD
WINFIELD, KS 67156

SBA Loan Lender

UNION STATE BANK
127 S SUMMIT ST
ARKANSAS CITY, KS 67005

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

6/12/2003

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Winfield KS, you ought to talk with a local Winfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Winfield businesses.

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 Union 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:

Obtaining Funding - How to Borrow Money

Best Arkansas City, Kansas Banks for Small Business

Getting an SBA Loan in Kansas