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November 14, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Grand Island, Business Loans > Five Points Bank Grand Island Business Loans > Retail Stores Loan | ||||
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NE SBA Loan from Five Points Bank
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Five Points Bank SBA Loan to Retail Stores CompanyFive Points Bank 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. Getting a small business loan in Central City, Nebraska was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Five Points Bank, operating out of Grand Island, Nebraska. Here are the details on this Nebraska small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender FIVE POINTS BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 9/15/2000 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $16,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company 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? Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Five Points Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Borrowing Money from Friends and Family Good Banks for Small Business in Grand Island, Nebraska
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