Ankeny, Iowa Entrepreneur Gets a Bank Loan

SBA loans in Iowa are hard to find these days. We take a look at one Iowa SBA loan, provided by an Iowa bank, that was approved by the SBA.

This company, based in Ankeny, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Community St. Bank. We've got the inside scoop on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONERS
ANKENY, IA 50023

SBA Loan Lender

COMMUNITY ST. BANK
817 N ANKENY BLVD
ANKENY, IA 50023

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621399 - Health Practitioners

Loan Approval Date

6/30/2006

Loan Approval Gross Amount

$50,500

Loan Approval from the SBA

Of the total $50,500 loan amount, the SBA guaranteed $25,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job.

Start the Process for Getting an SBA Loan Today!

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community St. Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community St. Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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