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May 18, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > South Sioux City, Business Loans > Iowa-Nebraska State Bank South Sioux City Business Loans > Automotive Services Loan | ||||
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Best Banks for Sioux City Businesses
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Local Business Gets a Nebraska Business LoanWant a Nebraska business loan? This Nebraska entrepreneur got a business loan, provided by a Nebraska bank that works with the SBA to help small business owners. By giving the right information to Iowa-Nebraska State Bank, this Sioux City, Nebraska business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender IOWA-NEBRASKA STATE BANK 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. SIC Code 7549 - Automotive Services NAICS Code 811198 - Automotive Repair and Maintenance Loan Approval Date 2/8/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Iowa-Nebraska State 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: Obtaining Funding - Friends and Family Small Business Banks in South Sioux City, Nebraska
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