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November 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Humboldt, Business Loans > Bank Iowa Humboldt Business Loans > Institutional Furniture Manufacturing Loan | ||||
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Dakota City, Iowa Bank for SBA Loans
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Bank Iowa Gives Small Business Loan to Institutional Furniture Manufacturing CompanyWant an Iowa SBA loan? This Iowa entrepreneur got an SBA loan, provided by an Iowa bank that works with the SBA to help small business owners. This company, based in Dakota City, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Iowa. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: INSTITUTIONAL FURNITURE MANUFACTURING SBA Loan Lender BANK IOWA This SBA 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 337127 - Institutional Furniture Manufacturing Loan Approval Date 10/5/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 27 employees. The loan application indicated that the loan would help retain 27 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Who Lends Money to Small Businesses in Humboldt, Iowa
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