Iowa SBA Loan Issued to Employee Leasing Services Company

Would an Iowa business loan help your company expand? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.

Getting a small business loan in Decorah, Iowa was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens State Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: EMPLOYEE LEASING SERVICES
DECORAH, IA 52101

SBA Loan Lender

CITIZENS STATE BANK
820 11TH AVE SW
WAUKON, IA 52172

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561330 - Employee Leasing Services

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$62,700

Loan Approval from the SBA

Of the total $62,700 loan amount, the SBA guaranteed $53,295.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 12 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

The Friends and Family Network

SBA Participating Banks in Waukon, Iowa

SBA Lenders in Iowa