If you’re an entrepreneur in the Cornhusker State, you’re likely familiar with the ebbs and flows that come along with running a small business.
No doubt, there are times when an extra bit of capital could go a long way toward making it easier to attract more customers, fill inventory orders and cover operating expenses during a slow month. Here are a few lenders you can turn to when you’re in need of a Nebraska small business loan.
Small Business Landscape in Nebraska
There are approximately 179,500 small businesses in Nebraska, according to the Small Business Administration (SBA), with nearly 1,500 of these involved in trade and exporting.
Popular industries in the state include the following:
- Food processing
- Beef production
- Retail trade
- Finance and insurance
- Electrical machinery manufacturing
5 Banks for Business Loans in Nebraska
1. Union Bank & Trust Company
This financial institution isn’t only accredited by the Better Business Bureau, but it’s also earned the organization’s A+ rating. Additionally, it’s been awarded a 4.9-star rating from WalletHub and made a spot on the site’s list of best banks this year.
If you’re in search of SBA Nebraska loans, you’ll find them here as well as the following:
- Agricultural lending
- Equipment leasing
- Commercial loans
- Commercial lines of credit
- Commercial real estate loans
2. First Nebraska Bank
Visit one of 11 of this bank’s locations throughout eastern and central Nebraska, where you’ll find commercial and agricultural loans. Some accolades include a 4.7-star rating on Facebook as well as a 4.8-star rating on WalletHub.
3. Heartland Bank
Heartland Bank is family-owned and has been in operation since 1899 (formerly Geneva State Bank). It has earned a 4.4-star review on Facebook as well as a 5-star WalletHub rating. Nebraska business loans available here include the following:
- Operating loans
- Operating lines of credit
- Business credit cards
- Equipment and machinery loans
- Commercial real estate loans
4. Pinnacle Bank
This financial institution is A+ rated with the BBB as well as accredited by the organization. It’s also earned a 4.8-star WalletHub rating. Nebraska small business loans at this bank include the following:
- Business loans
- Lines of credit
- Letters of credit
- Real estate financing
- Equipment financing
5. First National Bank of Omaha
Not only is this bank BBB accredited but it’s also rated as an A+ institution. Additionally, WalletHub reviewers have given it a 3.8-star rating. First National Bank of Omaha is one of several SBA lenders in Nebraska. Other financing options include business loans and lines of credit.
Alternative Financing Options in Nebraska
Conventional lenders or nonbank lenders, which should you choose?
That’s a question many small business owners ask themselves. There’s no right or wrong answer, but here are a few differences to keep in mind.
Banks are often able to offer competitive rates and terms. That said, the application, approval and funding processes can take some time. Additionally, you may be required to offer specific collateral to secure your loan.
On the other hand, online nonbank lenders are known to offer streamlined applications, less stringent approval requirements and speedy funding, sometimes as fast as the day after approval. Financing offers are often short-term, have more frequent payments and higher interest rates.
Applying for Business Funding in Missouri Through Fast Capital 360
Whether you’re in search of an SBA Nebraska lender or other business loan provider, we can help.
Submit our easy online application in just a few steps. It takes just minutes to complete.
We work with various lending partners throughout the country, which means your single application could return multiple offers.
You’ll have a dedicated Business Advisor helping you throughout the process.
Get Your Business Loan Faster
Additional Resources for Entrepreneurs in Nebraska
In addition to Nebraska business loans, consider that there are organizations throughout the state that can help you on your entrepreneurial journey.
Nebraska Innovation Fund Prototype Grants
Are you developing a product? This matching grant program, offered by the Department of Economic Development, awards up to $150,000 per project. If approved, the project must be completed within 2 years. To apply, you must be able to show evidence that you can match at least 50% of the funds offered to you or 25% if you’re working on a value-added agriculture product.
Nebraska Small Business Development Center
Sponsored in part by the SBA, the Small Business Development Center of Nebraska offers a number of free resources to entrepreneurs. Take part in a confidential 1-on-1 business consulting session or sign up for a free or low-cost workshop on a relevant topic.
This nationwide nonprofit, with locations throughout Nebraska, offers free business mentoring as well as online resources and training programs. Learn about such topics as marketing, business planning, finance, bookkeeping and more. If you’re a seasoned business owner, you might consider volunteering to be a mentor yourself.