Davenport, Iowa Entrepreneur Gets an SBA Loan

Searching for an Iowa small business loan? This Iowa entrepreneur got a small business loan, provided by an Iowa bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Davenport, Iowa by studying this loan to a local company, made back in 2005. Banks like Iowa St. Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
DAVENPORT, IA 52801

SBA Loan Lender

IOWA ST. BANK & TRUST
102 S CLINTON ST
IOWA CITY, IA 52240

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

9/20/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Davenport IA, you ought to talk with a local Davenport SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Davenport businesses.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Iowa City, Iowa

SBA Participating Banks in Iowa