Iowa Business Loan Issued to General Freight Trucking, Local Company

Looking to get an Iowa business loan? This Iowa entrepreneur got a business loan, provided by an Iowa bank that works with the SBA to help small business owners.

This small business, based in Clinton, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Clinton National Bank. We've got the inside scoop on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
CLINTON, IA 52732

SBA Loan Lender

THE CLINTON NATIONAL BANK
235 6TH AVE SOUTH
CLINTON, IA 52733

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

484110 - General Freight Trucking, Local

Loan Approval Date

8/17/2005

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the funding to hire new 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Clinton National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Clinton, Iowa

Getting an SBA Loan in Iowa