SBA Loan from American National Bank Helps Nondurable Goods Company

An SBA loan from American National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Waterloo, Nebraska business owner got a $565,000 loan.

Getting a small business loan in Waterloo, Nebraska was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from American National Bank, operating out of Omaha, Nebraska. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
WATERLOO, NE 68069

SBA Loan Lender

AMERICAN NATIONAL BANK
8990 W DODGE RD
OMAHA, NE 68114

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5199 - Nondurable Goods

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

12/12/2002

Loan Approval Gross Amount

$565,000

Loan Approval from the SBA

Of the total $565,000 loan amount, the SBA guaranteed $423,750.

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

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Choosing VC Firms

SBA 7A Banks for Omaha, Nebraska Loans

Getting an SBA Loan in Nebraska