Small Business Loans for Used Merchandise Stores

Looking for small business loans for used merchandise stores? Talk to a banker who works with the SBA. This $40,000 used merchandise stores loan was issued by a Nebraska bank.

This company knew how to go about getting a business bank loan. Based in Lincoln, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Cornhusker Bank, based in Lincoln, Nebraska.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
LINCOLN, NE 68504

SBA Loan Lender

CORNHUSKER BANK
1101 CORNHUSKER HWY
LINCOLN, NE 68521

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

453310 - Used Merchandise Stores

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add 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. Cornhusker Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cornhusker 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:

Business Line of Credit

Banks in Lincoln, Nebraska

SBA Lenders in Nebraska