Bellevue, Iowa Entrepreneur Gets a Small Business Loan

Searching for an Iowa business loan? This Iowa entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Bellevue, Iowa was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The National Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
BELLEVUE, IA 52031

SBA Loan Lender

THE NATIONAL BANK
229 MAIN ST
SAVANNA, IL 61074

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

7/29/2005

Loan Approval Gross Amount

$620,000

Loan Approval from the SBA

Of the total $620,000 loan amount, the SBA guaranteed $465,000.

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 13 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

Related Links:

Microlending as a Small Business Funding Source

Best Banks for Small Business in Savanna, Illinois

SBA Lenders in Illinois