Business Loan from Bank Iowa Given to Beauty Salons Company

An SBA loan from Bank Iowa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Des Moines, Iowa business owner got a $1,155,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Bank Iowa, based in West Des Moines, Iowa.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
DES MOINES, IA 50266

SBA Loan Lender

BANK IOWA
1150 JORDAN CREEK PKWY
WEST DES MOINES, IA 50266

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/25/2007

Loan Approval Gross Amount

$1,155,000

Loan Approval from the SBA

Of the total $1,155,000 loan amount, the SBA guaranteed $866,250.

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 45 employees. The loan application indicated that the loan would help retain 45 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,155,000 loan. Remember, where there is a will, there is a way!

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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