Business Loan from Raccoon Valley Bank Given to Art Dealers Company

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

This growing company knew how to go about getting a business bank loan. Based in Adel, Iowa, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Raccoon Valley Bank, based in Perry, Iowa.

SBA Loan Borrower

COMPANY TYPE: ART DEALERS
ADEL, IA 50003

SBA Loan Lender

RACCOON VALLEY BANK
1202 2ND
PERRY, IA 50220

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453920 - Art Dealers

Loan Approval Date

7/16/2004

Loan Approval Gross Amount

$58,000

Loan Approval from the SBA

Of the total $58,000 loan amount, the SBA guaranteed $49,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Adel IA, you ought to talk with a local Adel SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Adel businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Raccoon Valley Bank and they will explain how you can get an SBA loan for your company.

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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