State Central Bank Provides SBA Loan to Buy Hydro Physics Pipe Inspection Corp Franchise

Borrowing money to invest in a Hydro Physics Pipe Inspection Corp franchise? State Central Bank has a history of making these loans and they are guaranteed by the SBA.

Hydro Physics Pipe Inspection Corp franchise loans are available to Cedar Rapids, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, State Central Bank, based in Keokuk, Iowa, issued an SBA franchise loan for a Hydro Physics Pipe Inspection Corp franchise in 2006. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

HYDRO PHYSICS OF EASTERN IOWA
CEDAR RAPIDS, IA 52402

SBA Loan Lender

STATE CENTRAL BANK
601 MAIN ST
KEOKUK, IA 52632

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

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

9/12/2006

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hydro Physics Pipe Inspection Corp franchise. At the time of the loan, the company had only one employee. The loan application indicated that the borrowed money would help generate 1 new job.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State Central Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Central Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Hydro Physics Pipe Inspection

SBIR Funding

SBA Approved Banks in Keokuk, Iowa

Iowa SBA Bank Lenders