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November 21, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Lincoln, Business Loans > Wells Fargo Bank Lincoln Business Loans > Building Equipment Installation Loan | ||||
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Lincoln Lenders
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Lincoln, Nebraska Bank Gives SBA Loan to Building Equipment Installation CompanyThinking about meeting with a Lincoln, Nebraska bank about a business loan? Here's one Nebraska business loan, issued by a Lincoln bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local firm in Waverly, Nebraska. They received an SBA loan for $220,000. Awesome! SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT INSTALLATION SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1796 - Building Equipment Installation NAICS Code 235950 - Building Equipment and Machinery Installation Contractors Loan Approval Date 5/22/2000 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job. Next Steps for Getting an SBA Loan Although it's called an SBA loan, 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. 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 Wells Fargo 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: SBA Banks in Lincoln, Nebraska
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