Business Loan from First Bank Given to Business Service Centers Company

First Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Bank, out of West Des Moines, Iowa. The loan was granted and they received $365,300 to help grow their Des Moines, Iowa business.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICE CENTERS
DES MOINES, IA 50325

SBA Loan Lender

FIRST BANK
301 5TH ST
WEST DES MOINES, IA 50265

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561439 - Business Service Centers

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$365,300

Loan Approval from the SBA

Of the total $365,300 loan amount, the SBA guaranteed $273,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Des Moines or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Incubators

Best West Des Moines, Iowa Banks for Small Business

Iowa SBA 7A Lenders