Growing Company Gets a Nebraska SBA Loan

Bank loans in Nebraska are are few and far betweeen these days. We take a look at one Nebraska bank loan, provided by a Nebraska bank, that was approved by the SBA.

This business, based in Butte, Nebraska, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Great Western Bank. We've got the inside scoop on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
BUTTE, NE 68722

SBA Loan Lender

GREAT WESTERN BANK
118 E STATE ST
ATKINSON, NE 68713

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

5141 - Groceries, General Line

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

10/30/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Great Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Great Western Bank 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.

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