West Des Moines, Iowa Bank Lends Money to General Automotive Repair Company in Des Moines, Iowa

Want to talk with a West Des Moines, Iowa bank about a business loan? Here's one Iowa business loan, issued by a West Des Moines bank, that was approved by the SBA.

Applying for an SBA loan with First Bank worked out well for our friends at one local company in Des Moines, Iowa. The business was able to get an SBA loan for $135,300. Nice!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
DES MOINES, IA 50321

SBA Loan Lender

FIRST BANK
5625 MILLS CIVIC PKWY
WEST DES MOINES, IA 50266

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/17/2005

Loan Approval Gross Amount

$135,300

Loan Approval from the SBA

Of the total $135,300 loan amount, the SBA guaranteed $115,005.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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.

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