Lincoln, Nebraska Bank Gives SBA Loan to Automotive Body, Paint, And Interior Repair And Maintenance Company

Get to know Lincoln, Nebraska banks that specialize in SBA loans and know how to work with entrepreneurs. Cornhusker Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Lincoln, Nebraska starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Cornhusker Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
LINCOLN, NE 68516

SBA Loan Lender

CORNHUSKER BANK
1101 CORNHUSKER HWY
LINCOLN, NE 68521

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

6/29/2007

Loan Approval Gross Amount

$51,000

Loan Approval from the SBA

Of the total $51,000 loan amount, the SBA guaranteed $25,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Cornhusker Bank 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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Banks in Lincoln, Nebraska

Getting an SBA Loan in Nebraska