Davenport, Iowa Business Gets SBA-Guaranteed Funding from First Central State Bank

First Central State Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

Getting a small business loan in Davenport, Iowa was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Central State Bank, operating out of De Witt, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
DAVENPORT, IA 52807

SBA Loan Lender

FIRST CENTRAL STATE BANK
914 6TH AVE
DE WITT, IA 52742

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/13/2007

Loan Approval Gross Amount

$23,000

Loan Approval from the SBA

Of the total $23,000 loan amount, the SBA guaranteed $11,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Accountant's Role in Securing Financing

SBA 7A Banks in De Witt, Iowa

Iowa SBA 7A Lenders