Cedar Rapids, Iowa Bank Gives SBA Loan to Veterinary Services Company

Find Cedar Rapids, Iowa banks that specialize in business loans and know how to work with entrepreneurs. Farmers & Merchants Savings Bk is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Cedar Rapids, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Farmers & Merchants Savings Bk. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
CEDAR RAPIDS, IA 52402

SBA Loan Lender

FARMERS & MERCHANTS SAVINGS BK
4020 FIRST AVE NE
CEDAR RAPIDS, IA 52402

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

541940 - Veterinary Services

Loan Approval Date

1/22/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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:

Debt Financing

Best Cedar Rapids, Iowa Banks for Small Business

Iowa SBA 7A Banks