Ups Capital Business Credit Gives Bank Loan to Chiropractors Company
SBA loans in Iowa are tough to come by these days. We take a look at one Iowa SBA loan, provided by a Connecticut bank, that was approved by the SBA.
By giving the right information to Ups Capital Business Credit, this Des Moines, Iowa business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: CHIROPRACTORS
DES MOINES, IA 50315
SBA Loan Lender
UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621310 - Chiropractors
Loan Approval Date
12/16/2005
Loan Approval Gross Amount
$262,000
Loan Approval from the SBA
Of the total $262,000 loan amount, the SBA guaranteed $196,500.
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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 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.
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:
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Connecticut SBA 7A Lenders