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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Waterloo, Business Loans > Community National Bank Waterloo Business Loans > Women's Clothing Stores Loan | ||||
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SBA Lenders in Iowa
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Women's Clothing Stores Bank LoansLooking for bank loans for women's clothing stores? The SBA may be the answer. This $100,000 women's clothing stores loan was issued by an Iowa bank. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Community National Bank, out of Waterloo, Iowa. The loan was granted and they received $100,000 to help grow their Cedar Falls, Iowa business. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender COMMUNITY NATIONAL BANK This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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. SIC Code 5621 - Women's Clothing Stores NAICS Code 448120 - Women's Clothing Stores Loan Approval Date 5/31/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 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. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community National Bank and they will explain how you can get an SBA loan for your company. 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: Best Banks for Small Business in Waterloo, Iowa
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