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November 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Des Moines, Business Loans > Iowa State Bank Des Moines Business Loans > Ames Maid-Rite Loan | ||||
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How to Get SBA Loans in Des Moines, Iowa
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Des Moines, IA Entrepreneur Gets SBA Loan to Buy Maid-Rite Sandwich Shop FranchiseNeed money to invest in a Maid-Rite Sandwich Shop franchise? Iowa State Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Des Moines, Iowa needed money to invest in a Maid-Rite Sandwich Shop franchise back in 2006. Iowa State Bank issued an SBA franchise loan. Here are the details on this Iowa small business loan. SBA Loan Borrower AMES MAID-RITE SBA Loan Lender IOWA STATE BANK 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 722110 - Full-Service Restaurants Loan Approval Date 8/10/2006 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $110,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Maid-Rite Sandwich Shop franchise. At the time of the loan, the company had 30 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 20 existing jobs. 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. Iowa State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Iowa 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: SBA 7A Lenders in Des Moines, Iowa
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