Business Loan from Sterling Federal Bank, F.S.B. Given to Child Day Care Services Company

An SBA loan from Sterling Federal Bank, F.S.B. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Camanche, Iowa business owner got a $107,500 loan.

Getting a small business loan in Camanche, Iowa was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sterling Federal Bank, F.S.B., operating out of Clinton, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
CAMANCHE, IA 52730

SBA Loan Lender

STERLING FEDERAL BANK, F.S.B.
122 MAIN AVE
CLINTON, IA 52732

This lender issued this particular SBA bank 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

624410 - Child Day Care Services

Loan Approval Date

7/30/2002

Loan Approval Gross Amount

$107,500

Loan Approval from the SBA

Of the total $107,500 loan amount, the SBA guaranteed $91,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. 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 planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sterling Federal Bank, F.S.B. 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:

Small Business Loan

SBA Participating Banks in Clinton, Iowa

SBA Iowa Lenders