Lincoln, Nebraska Business Gets SBA-Guaranteed Funding from American Exchange Bank

American Exchange Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Nebraska entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Lincoln, Nebraska was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from American Exchange Bank, operating out of Elmwood, Nebraska. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
LINCOLN, NE 68505

SBA Loan Lender

AMERICAN EXCHANGE BANK
151 N 4TH ST
ELMWOOD, NE 68349

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

7/26/2005

Loan Approval Gross Amount

$43,700

Loan Approval from the SBA

Of the total $43,700 loan amount, the SBA guaranteed $37,145.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Lincoln NE, you ought to talk with a local Lincoln SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lincoln businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $43,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Cash Advances

SBA Banks in Elmwood, Nebraska

Nebraska SBA 7A Lenders