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November 21, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Osceola, Business Loans > Pinnacle Bank Osceola Business Loans > Hardware Loan | ||||
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Nebraska Small Business Funding
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Hardware Stores LoansWith these loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $48,000 was given to a Nebraska entrepreneur in 2006. 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 2006. The lending bank was Pinnacle Bank, based in Osceola, Nebraska. SBA Loan Borrower COMPANY TYPE: HARDWARE SBA Loan Lender PINNACLE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5072 - Hardware NAICS Code 444130 - Hardware Stores Loan Approval Date 2/10/2006 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pinnacle Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pinnacle Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: How Much Venture Capital Is There?
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