Local Business Gets a Nebraska Business Loan

Business loans in Nebraska are tough to come by these days. We take a look at one Nebraska business loan, provided by a Nebraska bank, that was approved by the SBA.

Getting a small business loan in Kearney, Nebraska was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Kearney St. Bank & Trust. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY MANUFACTURING
KEARNEY, NE 68848

SBA Loan Lender

KEARNEY ST. BANK & TRUST
3015 2ND AVE
KEARNEY, NE 68847

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.

NAICS Code

333120 - Construction Machinery Manufacturing

Loan Approval Date

8/5/2004

Loan Approval Gross Amount

$75,500

Loan Approval from the SBA

Of the total $75,500 loan amount, the SBA guaranteed $64,175.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Kearney NE, you ought to talk with a local Kearney SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kearney businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Kearney St. Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Approved Banks in Kearney, Nebraska

Nebraska SBA 7A Lenders