Farmers & Merchants Bank SBA Loan to Retail Stores Company

Looking to get a Nebraska small business loan? Here's one Nebraska business loan that was approved by the SBA.

This small business needed an SBA business loan in Milford, Nebraska back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Farmers & Merchants Bank, operating out of Milford, Nebraska. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
MILFORD, NE 68405

SBA Loan Lender

FARMERS & MERCHANTS BANK
617 1ST ST
MILFORD, NE 68405

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.

SIC Code

5999 - Retail Stores

Loan Approval Date

7/5/2000

Loan Approval Gross Amount

$55,200

Loan Approval from the SBA

Of the total $55,200 loan amount, the SBA guaranteed $44,160.

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 only one employee. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Farmers & Merchants Bank and they will explain how you can get an SBA loan for your company.

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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