Getting an SBA Loan for New Single-Family Housing Construction

Looking for SBA loans for new single-family housing construction? Try the SBA. This $94,300 new single-family housing construction loan was issued by a Nebraska bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Point, Nebraska was able to borrow $94,300 from First National Bank. The SBA made the loan possible by guaranteeing $47,150 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
WEST POINT, NE 68788

SBA Loan Lender

FIRST NATIONAL BANK
201 MAIN ST
BEEMER, NE 68716

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

236115 - New Single-Family Housing Construction

Loan Approval Date

11/24/2006

Loan Approval Gross Amount

$94,300

Loan Approval from the SBA

Of the total $94,300 loan amount, the SBA guaranteed $47,150.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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