Cedar Rapids, Iowa Entrepreneur Gets a Bank Loan
IowaSmall business loans are available to Iowa small business owners through the SBA. In this case, a California bank provides the loan.
You can learn something about getting a small business loan in Cedar Rapids, Iowa by studying this loan to a local company, made back in 2004. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: MARKETING CONSULTING SERVICES
CEDAR RAPIDS, IA 52403
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
541613 - Marketing Consulting Services
Loan Approval Date
2/26/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo 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:
Family and Friend Investors - Your First Financiers
Where to Get an SBA Loan in San Jose, California
California SBA 7A Banks