Bettendorf, Iowa Bank Lends Money to Rv Parks And Campgrounds Company in Davenport, Iowa

Find Bettendorf, Iowa banks that specialize in business loans and know how to work with entrepreneurs. Quad City Bank & Trust is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: RV PARKS AND CAMPGROUNDS
DAVENPORT, IA 52804

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

721211 - RV Parks and Campgrounds

Loan Approval Date

11/16/2006

Loan Approval Gross Amount

$34,600

Loan Approval from the SBA

Of the total $34,600 loan amount, the SBA guaranteed $17,300.

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 6 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

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.

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