Getting an SBA Loan for Automobile Manufacturing

Looking for commercial loans for automobile manufacturing? Try the SBA. This $612,221 automobile manufacturing loan was issued by a Nebraska bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bankfirst, out of Columbus, Nebraska. The loan was granted and they received $612,221 to help grow their Platte Center, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLES AND PASSENGER CAR BODIES
PLATTE CENTER, NE 68653

SBA Loan Lender

BANKFIRST
1371 26TH AVE
COLUMBUS, NE 68601

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3711 - Motor Vehicles and Passenger Car Bodies

NAICS Code

336111 - Automobile Manufacturing

Loan Approval Date

1/8/2003

Loan Approval Gross Amount

$612,221

Loan Approval from the SBA

Of the total $612,221 loan amount, the SBA guaranteed $459,166.

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 44 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Platte Center or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Equity Financing

Good Banks for Small Business in Columbus, Nebraska

Nebraska SBA 7A Lenders