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.
This small business, based in Kearney, Nebraska, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Geneva State Bank. We've got the inside scoop on this Nebraska small business loan.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
KEARNEY, NE 68845
SBA Loan Lender
GENEVA STATE BANK
3720 2ND AVE
KEARNEY, NE 68847
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5813 - Drinking Places
NAICS Code
722410 - Drinking Places
Loan Approval Date
3/16/2006
Loan Approval Gross Amount
$222,000
Loan Approval from the SBA
Of the total $222,000 loan amount, the SBA guaranteed $166,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 9 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Geneva State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Geneva 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.
Related Links:
Getting a Small Business Loan
SBA 7A Banks in Kearney, Nebraska
Find an SBA Lender in Nebraska