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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Johnston, Business Loans > Polk County Bank Johnston Business Loans > Painting And Paper Hanging Loan | ||||
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Iowa Bank SBA Loans
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Business Loan from Polk County Bank Given to Painting And Paper Hanging CompanyPolk County Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Polk County Bank, out of Johnston, Iowa. The loan was granted and they received $30,000 to help grow their Des Moines, Iowa business. SBA Loan Borrower COMPANY TYPE: PAINTING AND PAPER HANGING SBA Loan Lender POLK COUNTY BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1721 - Painting and Paper Hanging NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 4/2/2001 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Des Moines IA, you ought to talk with a local Des Moines SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Des Moines businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Realistic Debt Financing Options SBA 7A Banks for Johnston, Iowa Loans
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