As you drive the streets of Wichita and Kansas City, you can’t help but notice the small business community, from pizzerias to flower shops, boutiques to coffee houses. These businesses are the pulse of their neighborhoods.
When you’re looking to keep your small business going, capital is necessary, but sometimes you just don’t have enough. We’re letting you in on several lenders in Kansas for small business loans as well as providing helpful information and resources for entrepreneurs.
Small Business Landscape in Kansas
Kansas is home to more than 256,000 small businesses, which employ half of the private-sector workforce, according to the U.S. Small Business Administration (SBA).
The top 10 industries accounting for the most small business employees include the following:
- Healthcare and social assistance
- Accommodation and food services
- Retail trade
- Construction
- Other services (except public administration)
- Professional, technical and scientific services
- Wholesale trade
- Administrative, support and waste management
- Insurance and finance
- Warehousing and transportation
5 Lenders Offering Kansas Business Loans
Here are some top conventional lenders for business loans in Kansas.
1. Union Bank & Trust
Union Bank & Trust is accredited by the Better Business Bureau (BBB) and earned an A+ rating. Additionally, WalletHub ranked this institution a 2020 Best Bank in Kansas, and it’s earned a 4.9-star rating from users on the platform.
Visit 1 of 3 branches in the state, where you’ll find the following Kansas business loans:
- SBA loans
- Agricultural loans
- Bridge financing
- Construction loans
- Equipment leasing
- Term loans
- Lines of credit
- Inventory financing
- Working capital financing
- Commercial real estate loans
2. INTRUST Bank
INTRUST Bank has been offering loans to businesses since 1876. It’s accredited by the BBB, where it has an A+ rating. It’s also earned a 4.4- star rating from WalletHub and been named a 2020 Best Bank in Kansas.
Find the following Kansas small business loans at 1 of 42 branches:
- SBA loans
- Term loans
- Agribusiness loans
- Business lines of credit
- Business credit cards
- Commercial construction loans
- Commercial real estate loans
3. CoreFirst Bank & Trust
CoreFirst has been in operation since 1959 and today has more than 20 locations throughout the state. It’s earned BBB accreditation and is A+ rated. WalletHub’s users have given the bank a 4.2-star rating, and WalletHub has added the lender to its list of 2020 Best Banks in Kansas.
Small business owners can find the following loan products at this bank:
- Term loans
- Express loans
- Lines of credit
- Equipment loans
- Business credit cards
- Commercial real estate loans
4. UMB Bank
Another top bank is UMB, with an A+ rating from the BBB and a 4.4-star rating from WalletHub, where it’s also been named a 2020 Best Bank in Kansas. Applicants can speak to a loan officer at 1 of 22 branches in the state.
Business loans at this Kansas lending institution include the following:
- SBA loans
- Term loans
- Business credit cards
- Business lines of credit
- Equipment loans
- Business aviation lending
- Commercial real estate financing
5. Arvest Bank
What started as a small Arkansas bank in 1961 has moved along state lines and onto our list of top lenders offering Kansas business loans. Arvest Bank is A+ rated with the BBB and has earned a 4.1-star rating from WalletHub.
Here are the business financing products available at this bank:
- SBA loans
- Term loans
- Lines of credit
- Real estate loans
- Agricultural loans
- Equipment financing
- Business credit cards
Alternative Forms of Financing in Kansas
When smaller companies have needed help replacing business equipment or purchasing inventory, they’ve often turned to conventional lenders for loans. Though it’d be nice for banks to dole out capital like Warren Buffett, it simply isn’t possible. While bank loan rates and terms can be competitive, difficult application and funding processes have led many small business owners to hunt for another option.
Alternative lenders offer a flexible option for business owners who need funding fast and don’t meet strict bank requirements. Fast financing, such as merchant cash advances and short-term loans, can be available for applicants with less-than-perfect credit. These funding options typically have shorter repayment schedules, more frequent installments and higher rates. Depending on the lender, competitive SBA loans might also be available.
Applying for Alternative Financing With Fast Capital 360
When you’re seeking a Kansas small business loan, see what Fast Capital 360 can do for you. Here’s what sets us apart:
Speed
Complete our easy online application in just a few minutes.
Multiple Offers
Benefit from our nationwide network of lending partners standing at the ready. Receive multiple funding offers with your single application.
Expert Guidance
A Fast Capital 360 Business Advisor will review your offers with you. Once you understand the details, select the option that’s best for you.
Get Your Business Loan Faster
Small Business Resources in Kansas
When you’re running your own company, whether you’re a veteran owner or a startup entrepreneur, having access to business resources can be invaluable. Here are several organizations in the state you can turn to for assistance.
KCSourceLink
Speak with a small business counselor and get information on how to seek business loans, grants and equity funding. The organization offers more than 100 events monthly and is connected to more than 240 resource partners, accessible through the website’s Resource Navigator.
Network Kansas
This network of nonprofits is dedicated to helping small business owners succeed through business classes and funding programs. In fact, in October 2020, 9 firms received capital from the organization.
The following financing is available here:
- Startup Kansas Loan
- Ecommunity Loan
- Minority and Women Business Multiplier Loan
- Kansas Capital Multiplier Loan
Kansas Small Business Development Center
With 8 regional offices and several outreach centers in the state, the Kansas Small Business Development Center offers a wealth of resources to entrepreneurs looking to open a new business or expand an existing one. Business advisors and training programs are available to help with the following:
- Business planning
- Financial projections
- Business management
- Market research
- Marketing strategy
Find a Kansas Small Business Development Center near you:
- Dodge City
- Emporia (located in Emporia State University)
- Hays (located in Fort Hays State University)
- Lawrence (located in the University of Kansas)
- Liberal (located in Seward County Community College)
- Manhattan
- Overland Park (located in Johnson County Community College)
- Pittsburgh (located in Pittsburgh State University)
- Topeka (located in Washburn University)
- Wetmore
- Wichita (located in Wichita State University)
- Independence
