Des Moines, Iowa Business Gets SBA-Guaranteed Funding from West Bank
West Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.
Getting a small business loan in Des Moines, Iowa was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from West Bank, operating out of West Des Moines, Iowa. Here are the details on this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DES MOINES, IA 50311
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
722211 - Limited-Service Restaurants
Loan Approval Date
4/19/2002
Loan Approval Gross Amount
$65,000
Loan Approval from the SBA
Of the total $65,000 loan amount, the SBA guaranteed $55,250.
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 9 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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