Edgewood, Iowa Bank Gives SBA Loan to Hobby, Toy, And Game Stores Company

Want to talk with an Edgewood, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by an Edgewood bank, that was approved by the SBA.

Applying for an SBA loan with Community Savings Bank worked out well for our friends at one local company in Cedar Rapids, Iowa. They received an SBA loan for $85,000. Nice!

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

COMMUNITY SAVINGS BANK
101 E UNION ST
EDGEWOOD, IA 52042

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

3/15/2006

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 6 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Line of Credit

SBA Approved Banks in Edgewood, Iowa

Getting an SBA Loan in Iowa