Business Loan from First National Bank Of Chadron Given to Tire Dealers Company

First National Bank Of Chadron and the SBA work together to get business loans for growing small businesses. Here's an example of how a Nebraska entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Alliance, Nebraska, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First National Bank Of Chadron, based in Chadron, Nebraska.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
ALLIANCE, NE 69301

SBA Loan Lender

FIRST NATIONAL BANK OF CHADRON
2ND & MAIN ST
CHADRON, NE 69337

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

5/7/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank Of Chadron had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank Of Chadron made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks for Chadron, Nebraska Loans

SBA Lenders in Nebraska