Quad City Bank & Trust Gives SBA Loan to Florists Company
IowaBank loans are available to Iowa firms through the SBA. In this case, an Iowa bank provides the loan.
This company, based in Davenport, 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 Quad City Bank & Trust. We've got the inside scoop on this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: FLORISTS
DAVENPORT, IA 52806
SBA Loan Lender
QUAD CITY BANK & TRUST
2118 MIDDLE RD
BETTENDORF, IA 52722
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
453110 - Florists
Loan Approval Date
1/28/2005
Loan Approval Gross Amount
$165,000
Loan Approval from the SBA
Of the total $165,000 loan amount, the SBA guaranteed $82,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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