Business Loan from Bank Iowa Given to Nondurable Goods Merchant Wholesalers Company

Bank Iowa is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Des Moines, Iowa was able to borrow $278,000 from Bank Iowa. The SBA made the loan possible by guaranteeing $208,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
DES MOINES, IA 50313

SBA Loan Lender

BANK IOWA
420 8TH ST SE
ALTOONA, IA 50009

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

2/24/2004

Loan Approval Gross Amount

$278,000

Loan Approval from the SBA

Of the total $278,000 loan amount, the SBA guaranteed $208,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $278,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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