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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Marion, Business Loans > Farmers State Bank Marion Business Loans > Liberty Tax Service Loan | ||||
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Iowa Small Business Funding for Franchises
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Cedar Rapids, IA Entrepreneur Gets SBA Loan to Buy Liberty Tax Service FranchiseBorrowing money to purchase a Liberty Tax Service franchise? Farmers State Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Cedar Rapids, Iowa and are interested in buying a Liberty Tax Service franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Farmers State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower LIBERTY TAX SERVICE SBA Loan Lender FARMERS STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541213 - Tax Preparation Services Loan Approval Date 10/10/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need business start up money in Cedar Rapids IA, you ought to talk with a local Cedar Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar Rapids businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Farmers State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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