Borrowing Money for Machine Shops

With these loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $125,000 was given to a Nebraska entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Papillion, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Westroads Bank, Inc, based in Omaha, Nebraska.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
PAPILLION, NE 68046

SBA Loan Lender

FIRST WESTROADS BANK, INC
15750 W DODGE RD
OMAHA, NE 68118

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

9/16/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding - Getting Venture Capital

Good Banks for Small Business in Omaha, Nebraska

Getting an SBA Loan in Nebraska