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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > West Des Moines, Business Loans > First Bank West Des Moines Business Loans > Private Mail Centers Loan | ||||
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First Bank Small Business
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Business Loan from First Bank Given to Private Mail Centers CompanyFirst Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was First Bank, based in West Des Moines, Iowa. SBA Loan Borrower COMPANY TYPE: PRIVATE MAIL CENTERS SBA Loan Lender FIRST BANK 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 561431 - Private Mail Centers Loan Approval Date 9/14/2005 Loan Approval Gross Amount $82,400 Loan Approval from the SBA Of the total $82,400 loan amount, the SBA guaranteed $70,040. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. 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 $82,400 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. Related Links: SBA Banks in West Des Moines, Iowa Browse All Business Loan Sources for Iowa
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