Small Business Loans for Geophysical Surveying and Mapping Services

With these small business loans for geophysical surveying and mapping services, the SBA guarantees the lender that the loan will be repaid. This geophysical surveying and mapping services loan for $45,000 was given to an Iowa entrepreneur in 2003.

Getting a small business loan in Cedar Falls, Iowa was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Community National Bank, operating out of Waterloo, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GEOPHYSICAL SURVEYING AND MAPPING SERVICES
CEDAR FALLS, IA 50613

SBA Loan Lender

COMMUNITY NATIONAL BANK
422 COMMERCIAL ST
WATERLOO, IA 50701

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

541360 - Geophysical Surveying and Mapping Services

Loan Approval Date

5/27/2003

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business promised to use the loan proceeds 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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Best Waterloo, Iowa Banks for Small Business

SBA Participating Banks in Iowa