First State Bank, Conrad, Iowa Gives Business Loan to General Merchandise Stores Company

Would an Iowa SBA loan help your business get to the next level? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.

By giving the right information to First State Bank, Conrad, Iowa, this Conrad, Iowa business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
CONRAD, IA 50621

SBA Loan Lender

FIRST STATE BANK, CONRAD, IOWA
120 W CENTER ST
CONRAD, IA 50621

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$65,500

Loan Approval from the SBA

Of the total $65,500 loan amount, the SBA guaranteed $55,675.

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 SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $65,500. How would you spend $65,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Microlending as a Small Business Funding Source

Small Business Banks in Conrad, Iowa

Iowa SBA Banks