Iowa Small Business Loan Issued to Motorcycle, Bicycle, And Parts Manufacturing Company

Would an Iowa small business loan help your small business to grow and prosper? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.

Getting a small business loan in Calamus, Iowa was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Central State Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING
CALAMUS, IA 52729

SBA Loan Lender

FIRST CENTRAL STATE BANK
914 6TH AVE
DE WITT, IA 52742

This lender issued this particular commercial 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

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

7/22/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Central State 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:

Small Business Loan

Small Bank Loans in De Witt, Iowa

Iowa SBA 7A Banks