Nebraska Bank Loan Issued to Drycleaning And Laundry Services Company
NebraskaBusiness loans are available to Nebraska business owners through the SBA. In this case, a Nebraska bank provides the loan.
You can learn something about getting a small business loan in Creighton, Nebraska by studying this loan to a local business, made back in 2003. Banks like Midwest Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
CREIGHTON, NE 68729
SBA Loan Lender
MIDWEST BANK
606 MAIN ST
CREIGHTON, NE 68729
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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.
NAICS Code
812320 - Drycleaning and Laundry Services
Loan Approval Date
4/3/2003
Loan Approval Gross Amount
$35,000
Loan Approval from the SBA
Of the total $35,000 loan amount, the SBA guaranteed $29,750.
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 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Midwest Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Midwest 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:
Choosing VC Firms
Find an SBA Lender in Creighton, Nebraska
Nebraska SBA 7A Lenders