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November 14, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Bennington, Business Loans > Bank Of Bennington Bennington Business Loans > Farm Machinery And Equipment Loan | ||||
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Bank Of Bennington
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Bank Of Bennington SBA Loan to Farm Machinery And Equipment CompanyBank Of Bennington 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. Getting a small business loan in Omaha, Nebraska was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Bennington, operating out of Bennington, Nebraska. Here are the details on this Nebraska small business loan. SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT SBA Loan Lender BANK OF BENNINGTON SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3523 - Farm Machinery and Equipment NAICS Code 332212 - Hand and Edge Tool Manufacturing Loan Approval Date 1/31/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 20 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Bennington, Nebraska Getting a Business Loan in Nebraska
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