Omaha, NE Entrepreneur Gets SBA Loan to Buy Ident-A-Kid Franchise
Borrowing money to buy an Ident-A-Kid franchise? First State Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy an Ident-A-Kid franchise shouldn't be too tough. In 2004, First State Bank issued an SBA franchise loan to an entrepreneur in Omaha, Nebraska. Because Ident-A-Kid was registered with the SBA's registry of franchises, this Nebraska small business loan was issued on an expedited basis.
SBA Loan Borrower
IDENT-A-KIDS OF NEBRASKA
OMAHA, NE 68135
SBA Loan Lender
FIRST STATE BANK
11902 PIERCE PLZ
OMAHA, NE 68144
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.
624190 - Individual and Family Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $21,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an Ident-A-Kid franchise. At the time of the loan, the company
had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
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.
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