Entrepreneur Works With North Platte, Nebraska Bank to Get an SBA Loan

Find North Platte, Nebraska banks that specialize in business loans and know how to work with entrepreneurs. First National Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
MITCHELL, NE 69357

SBA Loan Lender

FIRST NATIONAL BANK
201 N DEWEY ST
NORTH PLATTE, NE 69101

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.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

1/12/2005

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Credit Cards

SBA 7A Banks for North Platte, Nebraska Loans

SBA Participating Banks in Nebraska