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

An SBA loan from Polk County 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 $186,585 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 2007. The lending bank was Polk County Bank, based in Johnston, Iowa.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
DES MOINES, IA 50314

SBA Loan Lender

POLK COUNTY BANK
5601 MERLE HAY RD
JOHNSTON, IA 50131

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

11/21/2007

Loan Approval Gross Amount

$186,585

Loan Approval from the SBA

Of the total $186,585 loan amount, the SBA guaranteed $139,938.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Polk County Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

SBA Participating Banks in Johnston, Iowa

Getting an SBA Loan in Iowa