Growing Company Gets a Nebraska SBA Loan

Looking to get a Nebraska bank loan? This Nebraska entrepreneur got a bank loan, provided by a Nebraska bank that works with the SBA to help small business owners.

Getting a small business loan in North Bend, Nebraska was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Pinnacle Bank. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
NORTH BEND, NE 68649

SBA Loan Lender

PINNACLE BANK
301 E 11TH ST
SCHUYLER, NE 68661

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

623110 - Nursing Care Facilities

Loan Approval Date

1/22/2003

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 62 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

How Equity Dilution Works

Best Schuyler, Nebraska Banks for Small Business

SBA Lenders in Nebraska