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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Ankeny, Business Loans > Community St. Bank Ankeny Business Loans > Locksmiths Loan | ||||
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Ankeny Bank Loan
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Ankeny, Iowa Bank Lends Money to Locksmiths Company in Ankeny, IowaWant to talk with an Ankeny, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by an Ankeny bank, that was approved by the SBA. Applying for an SBA loan with Community St. Bank worked out well for our friends at one local business in Ankeny, Iowa. The business was able to get an SBA loan for $63,600. Sweet! SBA Loan Borrower COMPANY TYPE: LOCKSMITHS SBA Loan Lender COMMUNITY ST. BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561622 - Locksmiths Loan Approval Date 7/23/2004 Loan Approval Gross Amount $63,600 Loan Approval from the SBA Of the total $63,600 loan amount, the SBA guaranteed $54,060. 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 loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community St. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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. Related Links: SBA Participating Banks in Ankeny, Iowa
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