Ericson, Nebraska Business Gets SBA-Guaranteed Funding from Ericson State Bank

An SBA loan from Ericson State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ericson, Nebraska business owner got a $20,000 loan.

This business knew how to go about getting a business bank loan. Based in Ericson, Nebraska, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Ericson State Bank, based in Ericson, Nebraska.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ERICSON, NE 68637

SBA Loan Lender

ERICSON STATE BANK
427 CENTRAL AVE
ERICSON, NE 68637

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/26/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $15,000.

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 SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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