Growing Company Gets a Nebraska Bank Loan

Would a Nebraska bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Nebraska bank, which offers SBA loans to Nebraska entrepreneurs.

This company, based in Omaha, Nebraska, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Great Western Bank. We've got the inside scoop on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: TEMPORARY HELP SERVICES
OMAHA, NE 68114

SBA Loan Lender

GREAT WESTERN BANK
6015 NW RADIAL HWY
OMAHA, NE 68104

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561320 - Temporary Help Services

Loan Approval Date

5/23/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 95 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 85 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Great Western Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Omaha, Nebraska

SBA Lenders in Nebraska