Pender, Nebraska Business Gets SBA-Guaranteed Funding from Pender State Bank

An SBA loan from Pender State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pender, Nebraska business owner got a $117,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pender, Nebraska was able to borrow $117,000 from Pender State Bank. The SBA made the loan possible by guaranteeing $99,450 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PENDER, NE 68047

SBA Loan Lender

PENDER STATE BANK
222 MAIN ST
PENDER, NE 68047

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires 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

722110 - Full-Service Restaurants

Loan Approval Date

8/6/2003

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $99,450.

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 20 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 Equity Dilution Works

Best Banks for Small Business in Pender, Nebraska

Getting an SBA Loan in Nebraska