Business Loan from West Bank Given to Drycleaning And Laundry Services Company
An SBA loan from West 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 $80,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Des Moines, Iowa was able to borrow $80,000 from West Bank. The SBA made the loan possible by guaranteeing $68,000 of this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
DES MOINES, IA 50317
SBA Loan Lender
WEST BANK
1601 22ND ST
WEST DES MOINES, IA 50266
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
812320 - Drycleaning and Laundry Services
Loan Approval Date
8/18/2005
Loan Approval Gross Amount
$80,000
Loan Approval from the SBA
Of the total $80,000 loan amount, the SBA guaranteed $68,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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:
The Friends and Family Network
SBA 7A Banks for West Des Moines, Iowa Loans
Getting a Business Loan in Iowa