Council Bluffs, Iowa Business Gets SBA-Guaranteed Funding from Midstates Bank

Midstates Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Council Bluffs, Iowa was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Midstates Bank, operating out of Council Bluffs, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
COUNCIL BLUFFS, IA 51501

SBA Loan Lender

MIDSTATES BANK
1851 MADISON AVE, STE 732
COUNCIL BLUFFS, IA 51503

This lender issued this particular 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

812112 - Beauty Salons

Loan Approval Date

8/22/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The SBA loan documents did not indicate that the small business 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 have been wondering how do i get money to start a business in Council Bluffs IA, you ought to talk with a local Council Bluffs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Council Bluffs businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Midstates Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Midstates Bank 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:

Business Credit Evaluation

Where to Get an SBA Loan in Council Bluffs, Iowa

Getting a Business Loan in Iowa