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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Des Moines, Business Loans > Iowa State Bank Des Moines Business Loans > Special Trade Contractors Loan | ||||
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Getting a Small Business Loan from Iowa State Bank
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SBA Loan from Iowa State Bank Helps Special Trade Contractors CompanyIowa State 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 business 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 2003. The lending bank was Iowa State Bank, based in Des Moines, Iowa. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender IOWA STATE BANK This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235990 - Special Trade Contractors Loan Approval Date 5/23/2003 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Iowa State Bank and they will explain how you can get an SBA loan for your company. 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: Best Des Moines, Iowa Banks for Small Business
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