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Last updated on Feb 23, 2024
In this article:
- Comparing SBA Loan Types in Kansas City
- Our Experts
- Small Business Loans Available in Kansas City
- 1. SBA 7(a) Loans
- 2. SBA 504 Loans
- 3. SBA Express Loans
- Get Financing
Kansas City is the third-largest city in the state of Kansas and is the county seat of Wyandotte County. It is located in the northeastern corner of the state, on the Missouri River, near the Kansas-Missouri border. The city has a population of 467,000 (2016) and is the anchor city of the Kansas City metropolitan area, which has a population of 2.3 million (2016).
The economy of Kansas City is diverse, with major sectors including finance, manufacturing, healthcare, biotechnology, and transportation. The city is home to several major corporations, including Sprint, H&R Block, and Hallmark Cards. Small businesses are also a major part of the city's economy, accounting for nearly 60% of all businesses in the city.
Kansas City is a great place to start and grow a small business. The city offers a variety of resources and programs to support small businesses, including the Kansas City Small Business Development Center and the Kansas City Chamber of Commerce. The city also has a number of incubators and accelerators, which provide resources and support to early-stage businesses.
Comparing SBA Loan Types in Kansas City
Our Experts
When it comes to small business loans, the SBA 7(a), SBA 504, and SBA Express programs are some of the best options available. Boasting favorable terms and low rates, these financing vehicles can provide up to $5 million for your business plans.
SBA 7(a) Loans specifically connects small business owners with lenders across the country who are prepared to offer the very best terms to support their businesses. If you're looking to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans should definitely be one of your top options.
Our experienced team will provide you with the very best terms from our network of lenders to ensure your business has what it needs to succeed. We offer this service completely free of charge.
Looking for more information about Kansas City? Read on below. Otherwise, click the button below, and we'll get right back to you with your free SBA 7(a) loan quote.
Small Business Loans Available in Kansas City
There are several options for small business loans in Kansas City. The Small Business Administration (SBA) offers several loan programs, including the 7a, 504, and Express programs, that can be used for a variety of purposes, such as working capital, equipment, and real estate. SBA loans are backed by the government and usually have lower interest rates and longer repayment terms than other types of loans.
1. SBA 7(a) Loans
The SBA 7(a) loan program is the Small Business Administration's most popular loan program. It can be used for a variety of different purposes, from working capital to equipment and even real estate. An SBA 7(a) loan's interest rate is generally lower than interest rates on conventional loans. Loan terms are also longer than most conventional loans, which keeps monthly debt service costs low. SBA 7(a) loans are capped at $5 million.
2. SBA 504 Loans
The SBA 504 program is aimed at businesses looking to acquire heavy equipment or fixed assets or for purchasing or developing real estate. Loan terms are typically up to 10 years for equipment purchases and 25 years for real estate, and interest rates are generally lower than most conventional financing options.
3. SBA Express Loans
SBA's Express Loan program are designed for speed: While loans max out at $500,000, the application turnaround time is just a few days. This convenience does not come for free, with interest rates generally higher — and repayment schedules typically shorter — than other SBA loan types, which increases the cost of debt service.
If you are interested in applying for a small business loan in Kansas City, we’ll match you with the best lender: Click here for a free quote.
In this article:
- Comparing SBA Loan Types in Kansas City
- Our Experts
- Small Business Loans Available in Kansas City
- 1. SBA 7(a) Loans
- 2. SBA 504 Loans
- 3. SBA Express Loans
- Get Financing
Click below for a free, no obligation quote and to learn more about your loan options.
