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December 30, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Omaha, Business Loans > First National Bank Of Omaha Omaha Business Loans > John Leyden Financial Advisor Loan | ||||
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Good Banks for Omaha Small Businesses
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Nebraska Entrepreneur Secures Financing to Buy American Express Financial Advisors FranchiseNeed a loan to buy an American Express Financial Advisors franchise? First National Bank Of Omaha has a history of making these loans and they are guaranteed by the SBA. Getting money to buy an American Express Financial Advisors franchise shouldn't be overly burdensome. In 2003, First National Bank Of Omaha issued an SBA franchise loan to an entrepreneur in Omaha, Nebraska. Because American Express Financial Advisors was registered with the SBA's registry of franchises, this Nebraska small business loan was issued on an expedited basis. SBA Loan Borrower JOHN LEYDEN FINANCIAL ADVISOR SBA Loan Lender FIRST NATIONAL BANK OF OMAHA This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 523999 - Financial Investment Activities Loan Approval Date 7/31/2003 Loan Approval Gross Amount $63,000 Loan Approval from the SBA Of the total $63,000 loan amount, the SBA guaranteed $53,550. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an American Express Financial Advisors franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. 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: Microlending as a Small Business Funding Source SBA 7A Banks in Omaha, Nebraska
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