Cornhusker Bank Gives Bank Loan to Grocery Stores Company
Small business loans in Nebraska are tough to come by these days. We take a look at one Nebraska small business loan, provided by a Nebraska bank, that was approved by the SBA.
By giving the right information to Cornhusker Bank, this Lincoln, Nebraska business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: GROCERY STORES
LINCOLN, NE 68510
SBA Loan Lender
CORNHUSKER BANK
1101 CORNHUSKER HWY
LINCOLN, NE 68521
This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5411 - Grocery Stores
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
5/29/2003
Loan Approval Gross Amount
$1,450,000
Loan Approval from the SBA
Of the total $1,450,000 loan amount, the SBA guaranteed $1,087,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 16 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Cornhusker Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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