Business Loan from First National Bank Northeast Given to Full-Service Restaurants Company

First National Bank Northeast 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 knew how to go about getting a business bank loan. Based in Oakland, Nebraska, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First National Bank Northeast, based in Oakland, Nebraska.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OAKLAND, NE 68045

SBA Loan Lender

FIRST NATIONAL BANK NORTHEAST
212 N OAKLAND AVE
OAKLAND, NE 68045

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

1/10/2002

Loan Approval Gross Amount

$32,800

Loan Approval from the SBA

Of the total $32,800 loan amount, the SBA guaranteed $27,880.

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 5 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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