Commercial Loans for Homes for the Elderly

Looking for commercial loans for homes for the elderly? An SBA loan may be just what you've been looking for. This $140,000 homes for the elderly loan was issued by a Nebraska bank.

This business knew how to go about getting a business bank loan. Based in North Bend, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Pinnacle Bank, based in Schuyler, Nebraska.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
NORTH BEND, NE 68649

SBA Loan Lender

PINNACLE BANK
301 E 11TH ST
SCHUYLER, NE 68661

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

2/16/2007

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 75 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pinnacle Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Debt Financing

SBA Banks in Schuyler, Nebraska

Where to Get an SBA Loan Nebraska