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December 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Council Bluffs, Business Loans > Midstates Bank Council Bluffs Business Loans > Chiropractors Loan | ||||
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Midstates Bank Council Bluffs, Iowa
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Midstates Bank SBA Loan to Chiropractors CompanyAn SBA loan from Midstates Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Council Bluffs, Iowa business owner got a $70,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Council Bluffs, Iowa was able to borrow $70,000 from Midstates Bank. The SBA made the loan possible by guaranteeing $59,500 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender MIDSTATES BANK 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 621310 - Chiropractors Loan Approval Date 2/1/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $70,000. How would you spend $70,000 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: Banking Deregulation's Effects on Entrepreneurship Small Bank Loans in Council Bluffs, Iowa
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