Cedar Rapids, Iowa Business Gets SBA-Guaranteed Funding from Liberty Bank, Fsb

An SBA loan from Liberty Bank, Fsb typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cedar Rapids, Iowa business owner got a $300,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Rapids, Iowa was able to borrow $300,000 from Liberty Bank, Fsb. The SBA made the loan possible by guaranteeing $225,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
CEDAR RAPIDS, IA 52402

SBA Loan Lender

LIBERTY BANK, FSB
320 3RD ST
CEDAR RAPIDS, IA 52401

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

11/22/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Role of Business Plan When Raising Money

Best Cedar Rapids, Iowa Banks for Small Business

SBA Participating Banks in Iowa