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Are you looking for Kansas’s best business loans & startup financing companies? For your small business in the Wheat State, many banks, credit unions, & unconventional lenders are offering different loan types. Don’t forget that 258,000+ small firms operate in this state today.

Understand the unique features and benefits of different loan types to empower your business. That’s how you can choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 10 business loans & startup financing options in Kansas to get started:

1.  Swoop Funding

Swoop Funding is every Kansas-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process. Swoop Funding is the ideal option for Kansas-based businesses that require ample funding to transform a business idea into reality to save their existing business during a financial crisis. That’s why we’ve put this lender as #1 on this list.

2.  Equity Bank

The average loan amount approved here is over $500k. Equity Bank offers local businesses loans -with little interest so they can acquire an existing business, purchase real estate, buy office equipment, or have access to quick cash based on their seasonal needs. So, you’ll get a term length of 7 years for working capital loans. The term length can be different based on your unique business needs. Here are a few reasons why this bank is the friend of every Kansas-based business in need of financing:

• Low-interest loans (4.87% being the average interest rate)
• Real estate loans to buy or renovate your premises
• Equipment loan to make business purchases
• 25 years for real estate/commercial loans

3.  First National Bank

If you need up to $12 million in funding, then you can get in touch with the First National Bank based in Syracuse, NY. However, $745,000 is the average loan amount approved here. You can use these funds to grow your business or expand into various markets. For instance, you may take out a commercial real estate loan to take your business to new heights of success or potentially purchase a plot outside of Kansas for business expansion.

4.  Kendall Bank

The interest rate here is a little over 5% (on average). Also, the average loan amount that you’ll get at Kendall Bank is $1.338 million. Based in Overland Park, you can get enough loans from this generous lender to expand your Kansas-based business on commercial real estate. Kendall’s funding is available for an equipment purchase, real estate, or any other significant expenditure. You may open a line of credit to make sure that you have access to funds whenever you need to meet unexpected financial expenditures. Trust Kendall Bank to connect you with the perfect SBA option based on the uniqueness of your business situation.

5.  Great Southern Bank

This lender also gives you access to 7(a) and 504 loans. Whether you need money for your hotel business or other real estate investments, you can trust the Great Southern Bank to have your back. It has branches in Parsons and Overland Park. This bank supports various industries and niches throughout Kansas. These industries include hotels, restaurants, retirement & healthcare or assisted living facilities, low-income or multifamily housing market, industrial real estate, and much more. This diversity of options makes the Great Southern Bank an excellent lender.

6.  Emprise Bank

This bank also has a very low rate of interest (4.40% on average). Also, $747k is the average loan amount approved by this lender. This lender aims to make it easier for Kansas-based startups to access flexible & credible loan options. The loans approved by the Emprise Bank will allow you to finance the following:

• Business acquisition
• Machinery/equipment
• Purchasing, constructing, or renovating buildings
• Inventory
• Working capital

7.  Kearny Bank

This lender has been serving small business owners for the past 140 years. The average loan amount they approve is $445k. Business lines of credit are available, and you can apply for long-term loans for 7 years. Moreover, you can open a line of credit starting at $50,000.00 or more. For well-qualified borrowers, the Kearny Bank extends the term length to 2 years. This bank aims to help you meet your short- and long-term business goals with proper funding made readily available to you.

8.  Midamerican Credit Union

In Wichita, Kansas, this lender provides you with the much-needed business funding. So, here are some telltale features of this lender:

• Competitive rates
• Flexible payment plans
• Fast & efficient approval
• Tailored loan structures for you
• Guidance from experienced folks

9.  Bank of Hays

If you need funding for your business expenses, you should talk to the Bank of Hays. Based in Hays, Kansas, this lender provides you with ample financing for commercial construction, buying office equipment, acquiring land, or investing in agricultural produce. So, you should get in touch with the Bank of Hays right away to take your Kansas-based business to new heights of success.

10.              Midland States Bank

This is yet another lender that helps Kansas-based businesses get ample funding. You can get up to $250,000 within the next 24 hours if you apply right now! You can apply for both secured and unsecured loans (one requires collateral while the other doesn’t). Also, opening a line of credit is possible with this lender, too. Eligibility requirements state that you must take out a loan under $250,000, your business must be registered with the Secretary of State in good standing, and your business must be based in Kansas.

Kansas Government Resources

Check out these government resources about business grants/funding and startup financing options for the state of Kansas:

• Kansas Business One Stop
• Small Business R&D Acceleration Grants
• City of Wichita Business Resources
• GROWKS Loan Programs

Top Cities in Kansas for Business Loans

Curious to know which cities, towns, municipalities, or census-designated places (CDPs) in Kansas are the best for business loans & startup financing? If you live in any of these 30 cities, then you can easily access SBA loans or other nontraditional financing means to embark on your entrepreneurial journey:

1. Wichita
2. Overland Park
3. Kansas City
4. Olathe
5. Topeka
6. Lawrence
7. Shawnee
8. Lenexa
9. Salina
10. Manhattan
11. Hutchinson
12. Leavenworth
13. Gardner
14. Dodge City
15. Emporia
16. Andover
17. Great Bend
18. Liberal
19. Ottawa
20. McPherson
21. Colby
22. Iola
23. Chanute
24. Beloit
25. Abilene
26. Hays
27. Wamego
28. Parsons
29. Fort Scott
30. Atchison

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in the Sunflower State. Don’t forget to check out lenders based in Oklahoma that cater to business owners and struggling visionaries from Kansas. They might help you out as well!

Choose a reliable lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If nothing makes sense, get in touch with us at Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly.