Norfolk, Nebraska Bank Gives SBA Loan to Full-Service Restaurants Company

Get to know Norfolk, Nebraska banks that specialize in SBA loans and know how to work with entrepreneurs. Bankfirst is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in South Sioux City, Nebraska starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Bankfirst. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SOUTH SIOUX CITY, NE 68776

SBA Loan Lender

BANKFIRST
100 N 13TH ST
NORFOLK, NE 68701

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/29/2006

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in South Sioux City NE, you ought to talk with a local South Sioux City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to South Sioux City businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bankfirst that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Financing Your Business

SBA Approved Banks in Norfolk, Nebraska

Nebraska SBA 7A Lenders