Company Gets an Iowa Bank Loan

IowaSBA loans are available to Iowa entrepreneurs through the SBA. In this case, an Iowa bank provides the loan.

This small business, based in Cedar Rapids, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from State Central Bank. We've got the inside scoop on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
CEDAR RAPIDS, IA 52404

SBA Loan Lender

STATE CENTRAL BANK
601 MAIN ST
KEOKUK, IA 52632

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

423840 - Industrial Supplies Merchant Wholesalers

Loan Approval Date

1/23/2007

Loan Approval Gross Amount

$137,400

Loan Approval from the SBA

Of the total $137,400 loan amount, the SBA guaranteed $68,700.

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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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

This SBA loan was for $137,400. How would you spend $137,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Debt Financing

Banks in Keokuk, Iowa

Where to Get an SBA Loan Iowa