Business Loan from Okey-Vernon 1st National Given to Retail Bakeries Company

Okey-Vernon 1st National has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Okey-Vernon 1st National, out of Corning, Iowa. The loan was granted and they received $30,000 to help grow their Corning, Iowa business.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
CORNING, IA 50841

SBA Loan Lender

OKEY-VERNON 1ST NATIONAL
701 DAVIS AVE
CORNING, IA 50841

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.

SIC Code

5461 - Retail Bakeries

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

7/24/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Corning IA, you ought to talk with a local Corning SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Corning businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Okey-Vernon 1st National had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Okey-Vernon 1st National made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Advice on Getting a Small Business Loan

Banks in Corning, Iowa

SBA Lenders in Iowa