Council Bluffs, Iowa Bank Lends Money to General Automotive Repair Company in Council Bluffs, Iowa

Find Council Bluffs, Iowa banks that specialize in small business loans and know how to work with entrepreneurs. American National Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Council Bluffs, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from American National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
COUNCIL BLUFFS, IA 51501

SBA Loan Lender

AMERICAN NATIONAL BANK
333 W BROADWAY
COUNCIL BLUFFS, IA 51503

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

12/3/2004

Loan Approval Gross Amount

$302,500

Loan Approval from the SBA

Of the total $302,500 loan amount, the SBA guaranteed $226,875.

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 27 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from American National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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