Growing Company Gets an Iowa SBA Loan

IowaBank loans are available to Iowa firms through the SBA. In this case, an Iowa bank provides the loan.

Getting a small business loan in Dubuque, Iowa was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Dutrac Community Cu. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SOLID WASTE COLLECTION
DUBUQUE, IA 52001

SBA Loan Lender

DUTRAC COMMUNITY CU
3465 ASBURY
DUBUQUE, IA 52002

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

6/1/2004

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Dubuque or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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