Entrepreneur Works With Des Moines, Iowa Bank to Get an SBA Loan

Get to know Des Moines, Iowa banks that specialize in business loans and know how to work with entrepreneurs. Iowa State Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Des Moines, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Iowa State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: TORTILLA MANUFACTURING
DES MOINES, IA 50320

SBA Loan Lender

IOWA STATE BANK
627 E LOCUST ST
DES MOINES, IA 50309

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

311830 - Tortilla Manufacturing

Loan Approval Date

10/3/2007

Loan Approval Gross Amount

$171,000

Loan Approval from the SBA

Of the total $171,000 loan amount, the SBA guaranteed $85,500.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My 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.

This SBA loan was for $171,000. How would you spend $171,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Des Moines, Iowa

Iowa SBA Bank Lenders