Des Moines, Iowa Entrepreneur Gets a Bank Loan

IowaSmall business loans are available to Iowa small business owners through the SBA. In this case, an Iowa bank provides the loan.

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 Polk County Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
DES MOINES, IA 50321

SBA Loan Lender

POLK COUNTY BANK
5601 MERLE HAY RD
JOHNSTON, IA 50131

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

9/20/2005

Loan Approval Gross Amount

$601,500

Loan Approval from the SBA

Of the total $601,500 loan amount, the SBA guaranteed $451,125.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Polk County Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Johnston, Iowa

Getting an SBA Loan in Iowa