Cedar Falls, Iowa Entrepreneur Gets a Small Business Loan

Looking to get an Iowa business loan? This Iowa entrepreneur got a business loan, provided by an Iowa bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Cedar Falls, Iowa by studying this loan to a local business, made back in 2002. Banks like Community National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
CEDAR FALLS, IA 50613

SBA Loan Lender

COMMUNITY NATIONAL BANK
422 COMMERCIAL ST
WATERLOO, IA 50701

This lender issued this particular loan for a small business 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

445291 - Baked Goods Stores

Loan Approval Date

6/24/2002

Loan Approval Gross Amount

$8,400

Loan Approval from the SBA

Of the total $8,400 loan amount, the SBA guaranteed $7,140.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Cedar Falls IA, you ought to talk with a local Cedar Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar Falls businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

The Friends and Family Network

SBA 7A Lenders in Waterloo, Iowa

Getting an SBA Loan in Iowa