Des Moines, Iowa Entrepreneur Gets a Business Loan
Searching for an Iowa SBA loan? This Iowa entrepreneur got an SBA loan, provided by a South Dakota bank that works with the SBA to help small business owners.
Getting a small business loan in Des Moines, Iowa was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
DES MOINES, IA 50312
SBA Loan Lender
WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104
This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
10/20/2000
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $32,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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