Des Moines, Iowa Business Gets SBA-Guaranteed Funding from First Bank

An SBA loan from First 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 $665,500 loan.

This business knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First Bank, based in West Des Moines, Iowa.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
DES MOINES, IA 50266

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

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

8/20/2003

Loan Approval Gross Amount

$665,500

Loan Approval from the SBA

Of the total $665,500 loan amount, the SBA guaranteed $489,808.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 55 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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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