SBA Loan from Farmers Savings Bank & Trust-Vin Helps Janitorial Services Company

Farmers Savings Bank & Trust-Vin has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

Getting a small business loan in Cedar Rapids, Iowa was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Farmers Savings Bank & Trust-Vin, operating out of Vinton, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

FARMERS SAVINGS BANK & TRUST-VIN
401 B AVE
VINTON, IA 52349

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

6/22/2004

Loan Approval Gross Amount

$494,000

Loan Approval from the SBA

Of the total $494,000 loan amount, the SBA guaranteed $370,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 200 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We can help you find the best banks for small businesses in Cedar Rapids or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

SBIR Funding

SBA 7A Banks in Vinton, Iowa

Iowa SBA 7A Lenders