American National Bank Gives Small Business Loan to Automotive Mechanical And Electrical Repair And Maintenance Company

SBA loans in Nebraska are hard to find these days. We take a look at one Nebraska SBA loan, provided by a Nebraska bank, that was approved by the SBA.

By giving the right information to American National Bank, this Omaha, Nebraska business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
OMAHA, NE 68164

SBA Loan Lender

AMERICAN NATIONAL BANK
8990 W DODGE RD
OMAHA, NE 68114

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

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

12/20/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Omaha NE, you ought to talk with a local Omaha SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Omaha businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from American National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Borrowing Money from Friends and Family

SBA Approved Banks in Omaha, Nebraska

SBA Participating Banks in Nebraska