Local Business Gets a Nebraska Business Loan

Business loans in Nebraska are tough to come by these days. We take a look at one Nebraska business loan, provided by a Nebraska bank, that was approved by the SBA.

Getting a small business loan in Ogallala, Nebraska was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Pinnacle Bank. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
OGALLALA, NE 69153

SBA Loan Lender

PINNACLE BANK
201 E 2ND ST
OGALLALA, NE 69153

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

8/28/2002

Loan Approval Gross Amount

$175,510

Loan Approval from the SBA

Of the total $175,510 loan amount, the SBA guaranteed $131,632.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Equity Financing

Small Business Banks in Ogallala, Nebraska

Nebraska SBA 7A Lenders