Borrowing Money for Hardware Stores

With these bank loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $45,000 was given to a Nebraska entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Osceola, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Pinnacle Bank, based in Shelby, Nebraska.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
OSCEOLA, NE 68651

SBA Loan Lender

PINNACLE BANK
215 N WALNUT
SHELBY, NE 68662

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

8/22/2003

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $45,000 loan. Remember, if it to be, it is up to me!

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:

SBIR Funding

Best Shelby, Nebraska Banks for Small Business

Getting an SBA Loan in Nebraska