Local Business Gets an Iowa SBA Loan

Would an Iowa business loan help your company expand? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.

Getting a small business loan in Cedar Rapids, Iowa was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Cedar Rapids Bank & Trust. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CEDAR RAPIDS, IA 52401

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/21/2001

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

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 18 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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