Clinton, Iowa Bank Gives SBA Loan to Folding Paperboard Box Manufacturing Company

A Clinton, Iowa small business loan can be yours. Learn how a company got a $1,584,000 business loan from this Iowa bank.

This loan to an entrepreneur is a good example of an SBA loan. Gateway State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Iowa entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FOLDING PAPERBOARD BOX MANUFACTURING
CAMANCHE, IA 52730

SBA Loan Lender

GATEWAY STATE BANK
1427 N 2ND ST
CLINTON, IA 52732

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

322212 - Folding Paperboard Box Manufacturing

Loan Approval Date

8/25/2005

Loan Approval Gross Amount

$1,584,000

Loan Approval from the SBA

Of the total $1,584,000 loan amount, the SBA guaranteed $1,188,000.

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 10 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.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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