Entrepreneur Works With Cedar Rapids, Iowa Bank to Get an SBA Loan

Thinking about meeting with a Cedar Rapids, Iowa bank about a business loan? Here's one Iowa business loan, issued by a Cedar Rapids bank, that was approved by the SBA.

Applying for an SBA loan with Bankiowa worked out well for our friends at one local business in Cedar Rapids, Iowa. They received an SBA loan for $500,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

BANKIOWA
7045 C AVE NE
CEDAR RAPIDS, IA 52402

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 9 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $500,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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