General Merchandise Stores Small Business Loans

Looking for small business loans for general merchandise stores? Talk to a banker who works with the SBA. This $40,800 general merchandise stores loan was issued by a Nebraska bank.

This small firm knew how to go about getting a business bank loan. Based in Lexington, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Tierone Bank, based in Lexington, Nebraska.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
LEXINGTON, NE 68850

SBA Loan Lender

TIERONE BANK
110 W 7TH ST
LEXINGTON, NE 68850

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

3/14/2000

Loan Approval Gross Amount

$40,800

Loan Approval from the SBA

Of the total $40,800 loan amount, the SBA guaranteed $32,640.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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