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December 22, 2024  
 
 
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Small Business Banks for Cedar Rapids Small Businesses

 

 
Loan Census SBA Loan Info

Loans for Sewing, Needlework, and Piece Goods Stores

Looking for loans for sewing, needlework, and piece goods stores? The SBA may be the answer. This $120,000 sewing, needlework, and piece goods stores loan was issued by an Iowa bank.

This small firm knew how to go about getting a business bank loan. Based in Cedar Rapids, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Farmers State Bank, based in Marion, Iowa.

SBA Loan Borrower

COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

FARMERS STATE BANK
1240 8TH AVE
MARION, IA 52302

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

7/7/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Marion, Iowa

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