SBA Loan from Valley Bank & Trust Helps Tire Dealers Company

Valley Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Aurelia, Iowa, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Valley Bank & Trust, based in Cherokee, Iowa.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
AURELIA, IA 51012

SBA Loan Lender

VALLEY BANK & TRUST
200 S 2ND ST
CHEROKEE, IA 51012

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

6/24/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley Bank & Trust 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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Banks in Cherokee, Iowa

Where to Get an SBA Loan Iowa