Omaha, Nebraska Bank Gives SBA Loan to Machine Tool Manufacturing Company

Get to know Omaha, Nebraska banks that specialize in SBA loans and know how to work with entrepreneurs. Great Western Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Omaha, Nebraska starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Great Western Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
OMAHA, NE 68127

SBA Loan Lender

GREAT WESTERN BANK
6015 NW RADIAL HWY
OMAHA, NE 68104

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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

333512 - Machine Tool Manufacturing

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$58,000

Loan Approval from the SBA

Of the total $58,000 loan amount, the SBA guaranteed $49,300.

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 9 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $58,000 loan. Remember, if it to be, it is up to me!

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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