Des Moines, Iowa Entrepreneur Gets a Bank Loan
Looking to get an Iowa small business loan? This Iowa entrepreneur got a small business loan, provided by an Iowa bank that works with the SBA to help small business owners.
Getting a small business loan in Des Moines, Iowa was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Bank. Here are the details on this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: PLUMBING AND HEATING EQUIPMENT AND SUPPLIES MERCHANT WHOLESALER
DES MOINES, IA 50313
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
423720 - Plumbing and Heating Equipment and Supplies Merchant Wholesaler
Loan Approval Date
3/14/2005
Loan Approval Gross Amount
$87,500
Loan Approval from the SBA
Of the total $87,500 loan amount, the SBA guaranteed $74,375.
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. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My 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.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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