Nebraska City, Nebraska Business Gets SBA-Guaranteed Funding from American National Bank

American National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Nebraska entrepreneur was able to get a loan to take a small business to the next level.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with American National Bank, out of Omaha, Nebraska. The loan was granted and they received $85,850 to help grow their Nebraska City, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEBRASKA CITY, NE 68410

SBA Loan Lender

AMERICAN NATIONAL BANK
8990 W DODGE RD
OMAHA, NE 68114

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/3/2003

Loan Approval Gross Amount

$85,850

Loan Approval from the SBA

Of the total $85,850 loan amount, the SBA guaranteed $72,972.

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 6 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels 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. American National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American National 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.

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