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November 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Creston, Business Loans > State Savings Bank Creston Business Loans > Nursery And Garden Centers Loan | ||||
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Banks in Iowa
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Where to Get Capital for Nursery and Garden CentersLooking for small business loans for nursery and garden centers? Talk to a banker who works with the SBA. This $225,000 nursery and garden centers loan was issued by an Iowa bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with State Savings Bank, out of Creston, Iowa. The loan was granted and they received $225,000 to help grow their Bedford, Iowa business. SBA Loan Borrower COMPANY TYPE: NURSERY AND GARDEN CENTERS SBA Loan Lender STATE SAVINGS BANK This SBA loan 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 444220 - Nursery and Garden Centers Loan Approval Date 6/20/2002 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 State Savings 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: Where to Get an SBA Loan in Creston, Iowa
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