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December 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Johnston, Business Loans > Community St. Bank Johnston Business Loans > Building Finishing Contractors Loan | ||||
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Community St. Bank
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Des Moines, Iowa Business Gets SBA-Guaranteed Funding from Community St. BankAn SBA loan from Community St. Bank 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 $48,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Des Moines, Iowa was able to borrow $48,000 from Community St. Bank. The SBA made the loan possible by guaranteeing $40,800 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: BUILDING FINISHING CONTRACTORS SBA Loan Lender COMMUNITY ST. BANK 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 238390 - Building Finishing Contractors Loan Approval Date 12/4/2003 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $48,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Participating Banks in Johnston, Iowa
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