Bankfirst SBA Loan to Health And Allied Services Company

Bankfirst is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Nebraska entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bankfirst, out of Norfolk, Nebraska. The loan was granted and they received $68,500 to help grow their Norfolk, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND ALLIED SERVICES
NORFOLK, NE 68701

SBA Loan Lender

BANKFIRST
100 N 13TH ST
NORFOLK, NE 68701

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.

SIC Code

8099 - Health and Allied Services

NAICS Code

621340 - Physical, Occupational and Speech Therapists, and Audiologists

Loan Approval Date

10/10/2000

Loan Approval Gross Amount

$68,500

Loan Approval from the SBA

Of the total $68,500 loan amount, the SBA guaranteed $54,800.

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 documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bankfirst had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bankfirst 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:

Startup Funding Tip

SBA Approved Banks in Norfolk, Nebraska

Nebraska SBA 7A Lenders