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May 9, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Lincoln, Business Loans > Pinnacle Bank Lincoln Business Loans > Plumbing, Heating, And Air Conditioning Contractors Loan | ||||
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We Needed a Business Loan in Lincoln, Nebraska and We Got One!
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Where to Get Capital for Plumbing, Heating, and Air Conditioning ContractorsLooking for SBA loans for plumbing, heating, and air conditioning contractors? The SBA may be the answer. This $43,000 plumbing, heating, and air conditioning contractors loan was issued by a Nebraska bank. Getting a small business loan in Lincoln, Nebraska was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Pinnacle Bank, operating out of Lincoln, Nebraska. Here are the details on this Nebraska small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS SBA Loan Lender PINNACLE BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 5/9/2001 Loan Approval Gross Amount $43,000 Loan Approval from the SBA Of the total $43,000 loan amount, the SBA guaranteed $36,550. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Advice on Getting a Small Business Loan Who Lends Money to Small Businesses in Lincoln, Nebraska
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