Bancroft, Nebraska Lender Lends Money to Commercial And Industrial Machinery And Equipment Company

Find Bancroft, Nebraska banks that specialize in SBA loans and know how to work with entrepreneurs. First National Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
BANCROFT, NE 68004

SBA Loan Lender

FIRST NATIONAL BANK
301 MAIN ST
BANCROFT, NE 68004

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.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

3/26/2003

Loan Approval Gross Amount

$111,300

Loan Approval from the SBA

Of the total $111,300 loan amount, the SBA guaranteed $94,605.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the funding to add employees 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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