State Central Bank SBA Loan to General Warehousing And Storage Company

Want an Iowa SBA loan? Here's one Iowa business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burlington, Iowa was able to borrow $61,900 from State Central Bank. The SBA made the loan possible by guaranteeing $49,520 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL WAREHOUSING AND STORAGE
BURLINGTON, IA 52601

SBA Loan Lender

STATE CENTRAL BANK
619 NINTH ST
FORT MADISON, IA 52627

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4225 - General Warehousing and Storage

Loan Approval Date

8/22/2000

Loan Approval Gross Amount

$61,900

Loan Approval from the SBA

Of the total $61,900 loan amount, the SBA guaranteed $49,520.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from State Central Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Choosing VC Firms

Best Fort Madison, Iowa Banks for Small Business

Iowa SBA 7A Lenders