First State Bank Gives SBA Loan to Full-Service Restaurants Company

Looking to get an Iowa SBA loan? This Iowa entrepreneur got an SBA loan, provided by an Iowa bank that works with the SBA to help small business owners.

Getting a small business loan in Britt, Iowa was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First State Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BRITT, IA 50423

SBA Loan Lender

FIRST STATE BANK
183 MAIN AVE NORTH
BRITT, IA 50423

This lender issued this particular SBA 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

722110 - Full-Service Restaurants

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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