Iowa Small Business Loan Issued to Geophysical Surveying And Mapping Services Company

Searching for an Iowa small business loan? This Iowa entrepreneur got a small business loan, provided by an Iowa bank that works with the SBA to help small business owners.

By giving the right information to Farmers & Merchants Savings Bk, this Anamosa, Iowa business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: GEOPHYSICAL SURVEYING AND MAPPING SERVICES
ANAMOSA, IA 52205

SBA Loan Lender

FARMERS & MERCHANTS SAVINGS BK
101 E MAIN ST
MANCHESTER, IA 52057

This was a Low Documentation SBA loan. The SBA started 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541360 - Geophysical Surveying and Mapping Services

Loan Approval Date

2/23/2004

Loan Approval Gross Amount

$121,900

Loan Approval from the SBA

Of the total $121,900 loan amount, the SBA guaranteed $103,620.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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