Business Loan from First State Bank Of Ida Grove Given to Liquefied Petroleum Gas Dealers Company

First State Bank Of Ida Grove is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Batle Creek, Iowa was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Of Ida Grove, operating out of Ida Grove, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUEFIED PETROLEUM GAS DEALERS
BATLE CREEK, IA 51006

SBA Loan Lender

FIRST STATE BANK OF IDA GROVE
200 MOOREHEAD AVE
IDA GROVE, IA 51445

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454312 - Liquefied Petroleum Gas Dealers

Loan Approval Date

6/7/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 18 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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