Edgewood, Iowa Business Gets SBA-Guaranteed Funding from Community Savings Bank

An SBA loan from Community Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Edgewood, Iowa business owner got a $61,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Community Savings Bank, out of Edgewood, Iowa. The loan was granted and they received $61,000 to help grow their Edgewood, Iowa business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
EDGEWOOD, IA 52042

SBA Loan Lender

COMMUNITY SAVINGS BANK
101 E UNION ST
EDGEWOOD, IA 52042

This lender issued this particular SBA bank 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.

SIC Code

5812 - Eating Places

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$61,000

Loan Approval from the SBA

Of the total $61,000 loan amount, the SBA guaranteed $48,800.

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 8 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Raising VC Money for Social Networking Companies

Find an SBA Lender in Edgewood, Iowa

SBA Participating Banks in Iowa