Bank Loans for Fine Arts Schools

With these bank loans for fine arts schools, the SBA guarantees the lender that the loan will be repaid. This fine arts schools loan for $34,000 was given to an Iowa entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Bettendorf, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First National Bank, based in Bettendorf, Iowa.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
BETTENDORF, IA 52722

SBA Loan Lender

FIRST NATIONAL BANK
2002 SPRUCE HILLS DR
BETTENDORF, IA 52722

This commercial 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

611610 - Fine Arts Schools

Loan Approval Date

9/13/2006

Loan Approval Gross Amount

$34,000

Loan Approval from the SBA

Of the total $34,000 loan amount, the SBA guaranteed $28,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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Small Bank Loans in Bettendorf, Iowa

Iowa SBA Banks