Growing Company Gets an Iowa Bank Loan

Bank loans in Iowa are tough to come by these days. We take a look at one Iowa bank loan, provided by an Iowa bank, that was approved by the SBA.

You can learn something about getting a small business loan in Bellevue, Iowa by studying this loan to a local company, made back in 2002. Banks like Iowa Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
BELLEVUE, IA 52031

SBA Loan Lender

IOWA BANK
300 N SECOND ST
BELLEVUE, IA 52031

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

5/2/2002

Loan Approval Gross Amount

$29,600

Loan Approval from the SBA

Of the total $29,600 loan amount, the SBA guaranteed $25,160.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $29,600. How would you spend $29,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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