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December 22, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Lincoln, Business Loans > Pinnacle Bank Lincoln Business Loans > Household Cooking Appliance Manufacturing Loan | ||||
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Small Business Banks That Lend to Nebraska Small Business Owners
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Columbus, Nebraska Entrepreneur Gets an SBA LoanNebraskaBank loans are available to Nebraska firms through the SBA. In this case, a Nebraska bank provides the loan. Getting a small business loan in Columbus, Nebraska was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Pinnacle Bank. Here are the details on this Nebraska small business loan. SBA Loan Borrower COMPANY TYPE: HOUSEHOLD COOKING APPLIANCE MANUFACTURING SBA Loan Lender PINNACLE BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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. NAICS Code 335221 - Household Cooking Appliance Manufacturing Loan Approval Date 11/30/2004 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. 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 6 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pinnacle Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pinnacle 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. Related Links: Obtaining Funding From a Venture Capitalist Best Banks for Small Business in Lincoln, Nebraska SBA Participating Banks in Nebraska
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