Local Business Gets an Iowa SBA Loan
Would an Iowa business loan help your company expand? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.
This company, based in Bettendorf, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Valley Bank. We've got the inside scoop on this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: CHIROPRACTORS
BETTENDORF, IA 52722
SBA Loan Lender
VALLEY BANK
500 E LECLAIRE RD
ELDRIDGE, IA 52748
This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621310 - Chiropractors
Loan Approval Date
4/10/2002
Loan Approval Gross Amount
$29,000
Loan Approval from the SBA
Of the total $29,000 loan amount, the SBA guaranteed $24,650.
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 2 employees. The loan application did not indicate that the small business promised to use the money 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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Valley Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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SBA Banks in Eldridge, Iowa
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