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April 29, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Omaha, Business Loans > First National Bank Of Omaha Omaha Business Loans > M & M Coffee Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Omaha, Nebraska
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Omaha, NE Entrepreneur Gets SBA Loan to Buy Scooters Java Express FranchiseNeed money to invest in a Scooters Java Express franchise? First National Bank Of Omaha has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Omaha, Nebraska needed money to invest in a Scooters Java Express franchise back in 2004. First National Bank Of Omaha issued an SBA franchise loan. Here are the details on this Nebraska small business loan. SBA Loan Borrower M & M COFFEE SBA Loan Lender FIRST NATIONAL BANK OF OMAHA This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 4/16/2004 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Scooters Java Express franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Family and Friend Investors - Your First Financiers SBA Approved Banks in Omaha, Nebraska Getting an SBA Loan in Nebraska
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