SBA Loan from First State Bank Helps Electrical Wiring Supplies Company

An SBA loan from First State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Omaha, Nebraska business owner got a $212,220 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Omaha, Nebraska was able to borrow $212,220 from First State Bank. The SBA made the loan possible by guaranteeing $159,165 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
OMAHA, NE 68137

SBA Loan Lender

FIRST STATE BANK
914 LAKE
GOTHENBURG, NE 69138

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

7/20/2006

Loan Approval Gross Amount

$212,220

Loan Approval from the SBA

Of the total $212,220 loan amount, the SBA guaranteed $159,165.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First State Bank and they will explain how you can get an SBA loan for your company.

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:

Business Incubators

Small Business Banks in Gothenburg, Nebraska

Nebraska SBA 7A Lenders