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January 26, 2025 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cedar Rapids, Business Loans > Bankers Trust Cedar Rapids Business Loans > Direct Selling Establishments Loan | ||||
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Examples of Cedar Rapids SBA Loans
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Getting an SBA Loan for Direct Selling EstablishmentsLooking for commercial loans for direct selling establishments? Try the SBA. This $250,000 direct selling establishments loan was issued by an Iowa bank. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bankers Trust, out of Cedar Rapids, Iowa. The loan was granted and they received $250,000 to help grow their Cedar Rapids, Iowa business. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender BANKERS TRUST 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 454390 - Direct Selling Establishments Loan Approval Date 10/13/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 28 employees. This SBA loan request indicated that the borrowed money would help create 28 new jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bankers Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options Who Lends Money to Small Businesses in Cedar Rapids, Iowa
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