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May 10, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Grand Island, Business Loans > Heritage Bank Grand Island Business Loans > Eating Places Loan | ||||
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Nebraska Bank SBA Loans
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Heritage Bank SBA Loan to Eating Places CompanyLooking to get a Nebraska small business loan? Here's one Nebraska business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Island, Nebraska was able to borrow $100,000 from Heritage Bank. The SBA made the loan possible by guaranteeing $80,000 of this Nebraska small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender HERITAGE BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 2/9/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 3 employees. The loan application 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Heritage Bank and they will explain how you can get an SBA loan for your company. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Grand Island, Nebraska
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