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First Quarter of Fiscal '12 Shows Continued Support for SBA Lending in Nebraska

Release Date: 
Tuesday, January 3, 2012
Release Number: 
Advisory Date: 
Tuesday, January 3, 2012
Advisory Number: 
Michael Foutch (402) 221-7211


Following up on a record for SBA lending volume in the state’s history, the numbers show continued strong support for small business lending in Nebraska.

The first quarter of Fiscal 2012, which wrapped up Dec. 31, saw Nebraska’s small businesses approved for 112 SBA-backed loans for $32.7 million for the first  quarter.

The good news is that entrepreneurs throughout the state, from Beatrice to York, have received financing to start a new business, refinance existing debt, or find the capital needed to expand operations. As a result of SBA loans in the first quarter, more than 360 new jobs are being created in Nebraska, and just as important, 1,450 jobs are being kept on company payrolls.

Of the small businesses which received SBA financing in the first quarter, 65 went to start-ups and 47 went to existing businesses, a promising sign.  In a usual quarter, 33 to 40 percent of SBA loan activity goes to start-up firms; in the first quarter of 2012, that was 42 percent.

Digging deeper into the numbers, 26 loans went to rural companies while 86 went to urban ones; 21 went to women-owned firms, and seven went to veteran-owned small businesses.

Lincoln’s First State Bank stood out in the first quarter with 16 SBA loan approvals for $2.19 million in volume.  US Bank made nine SBA-backed loans for $851,000, while Centris Federal Credit Union made eight  for a total of $480,000 to its small business customers.

The largest SBA-guaranteed loan in the state this quarter was approved Dec. 13 for Great Western Bank, a $3.6 million deal for a Cozad-based plastics manufacturing company.

The field with the most SBA loan approvals this quarter was specialty trade contractors, with 18 for $2.89 million.

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