Pinnacle Bank SBA Loan to Bread, Cake, And Related Bakery Products Company
Pinnacle Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Nebraska entrepreneur who tapped into the power of SBA loans.
This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pinnacle Bank, out of Lexington, Nebraska. The loan was granted and they received $140,000 to help grow their Lexington, Nebraska business.
SBA Loan Borrower
COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS
LEXINGTON, NE 68850
SBA Loan Lender
PINNACLE BANK
410 N WASHINGTON
LEXINGTON, NE 68850
This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2051 - Bread, Cake, and Related Bakery Products
NAICS Code
311811 - Retail Bakeries
Loan Approval Date
5/7/2001
Loan Approval Gross Amount
$140,000
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $119,000.
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 8 employees. The loan application did not indicate that the company planned to use the funding 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.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pinnacle Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Understanding Dilution
SBA Approved Banks in Lexington, Nebraska
Nebraska SBA Bank Lenders