SBA Loan from First American Bank Helps Pet And Pet Supplies Stores Company

An SBA loan from First American Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ankeny, Iowa business owner got a $125,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ankeny, Iowa was able to borrow $125,000 from First American Bank. The SBA made the loan possible by guaranteeing $106,250 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: PET AND PET SUPPLIES STORES
ANKENY, IA 50021

SBA Loan Lender

FIRST AMERICAN BANK
1207 CENTRAL AVE
FORT DODGE, IA 50501

This lender issued this particular SBA bank 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

453910 - Pet and Pet Supplies Stores

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 5 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First American Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Getting a Small Business Loan

Best Fort Dodge, Iowa Banks for Small Business

SBA Lenders in Iowa