Cedar Rapids, Iowa Business Gets SBA-Guaranteed Funding from Bankers Trust

Bankers Trust has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Cedar Rapids, Iowa, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bankers Trust, based in Cedar Rapids, Iowa.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL ART AND GRAPHIC DESIGN
CEDAR RAPIDS, IA 52402

SBA Loan Lender

BANKERS TRUST
221 THIRD AVE SE, STE 150
CEDAR RAPIDS, IA 52401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7336 - Commercial Art and Graphic Design

NAICS Code

541430 - Graphic Design Services

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 7 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Cedar Rapids IA, you ought to talk with a local Cedar Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar Rapids businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Cedar Rapids, Iowa

SBA Lenders in Iowa