Auburn, Nebraska Bank Gives SBA Loan to Automotive Exhaust System Repair Shops Company

Get to know Auburn, Nebraska banks that specialize in SBA loans and know how to work with entrepreneurs. Auburn State Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Auburn, Nebraska starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Auburn State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SHOPS
AUBURN, NE 68305

SBA Loan Lender

AUBURN STATE BANK
1212 'J' ST
AUBURN, NE 68305

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.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

4/22/2004

Loan Approval Gross Amount

$58,500

Loan Approval from the SBA

Of the total $58,500 loan amount, the SBA guaranteed $49,725.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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