Small Business Loans for Farm Machinery and Equipment Manufacturing

Looking for small business loans for farm machinery and equipment manufacturing? Try the SBA. This $505,200 farm machinery and equipment manufacturing loan was issued by a Nebraska bank.

This small firm knew how to go about getting a business bank loan. Based in Norfolk, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bankfirst, based in Norfolk, Nebraska.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT
NORFOLK, NE 68701

SBA Loan Lender

BANKFIRST
100 N 13TH ST
NORFOLK, NE 68701

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3523 - Farm Machinery and Equipment

NAICS Code

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$505,200

Loan Approval from the SBA

Of the total $505,200 loan amount, the SBA guaranteed $378,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $505,200 loan. Remember, things become real when you believe you can achieve them!

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:

Financing Your Business

SBA Approved Banks in Norfolk, Nebraska

Getting an SBA Loan in Nebraska