Cedar Falls, Iowa Entrepreneur Gets a Business Loan

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

Getting a small business loan in Cedar Falls, Iowa was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bankiowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL RENTAL CENTERS
CEDAR FALLS, IA 50613

SBA Loan Lender

BANKIOWA
7045 C AVE NE
CEDAR RAPIDS, IA 52402

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

532310 - General Rental Centers

Loan Approval Date

1/9/2006

Loan Approval Gross Amount

$142,100

Loan Approval from the SBA

Of the total $142,100 loan amount, the SBA guaranteed $71,050.

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 2 employees. The SBA loan documents indicated that the loan would help create 2 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bankiowa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bankiowa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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