Borrowing Money for Building Material Dealers

With these loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $55,000 was given to an Iowa entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Elk Horn, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Shelby County State Bank, based in Elk Horn, Iowa.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
ELK HORN, IA 51531

SBA Loan Lender

SHELBY COUNTY STATE BANK
4039 MAIN ST
ELK HORN, IA 51531

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

4/15/2002

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Obtaining Funding - Getting Venture Capital

Small Bank Loans in Elk Horn, Iowa

Iowa SBA Bank Lenders