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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Carroll, Business Loans > Iowa Savings Bank Carroll Business Loans > Bed-And-Breakfast Inns Loan | ||||
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Iowa Small Business Funding
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Bank Loans for Bed-and-Breakfast InnsLooking for bank loans for bed-and-breakfast inns? Try the SBA. This $45,000 bed-and-breakfast inns loan was issued by an Iowa bank. This company knew how to go about getting a business bank loan. Based in Carroll, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Iowa Savings Bank, based in Carroll, Iowa. SBA Loan Borrower COMPANY TYPE: BED-AND-BREAKFAST INNS SBA Loan Lender IOWA SAVINGS BANK 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. NAICS Code 721191 - Bed-and-Breakfast Inns Loan Approval Date 8/6/2002 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $38,250. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Iowa Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Participating Banks in Iowa
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