Bank Midwest Minnesota Iowa Na SBA Loan to Radio, Tv, And Consumer Electronics Retailing Company

Searching for an Iowa small business loan? Here's one Iowa business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Midwest Minnesota Iowa Na, out of Okoboji, Iowa. The loan was granted and they received $45,000 to help grow their Estherville, Iowa business.

SBA Loan Borrower

COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING
ESTHERVILLE, IA 51334

SBA Loan Lender

BANK MIDWEST MINNESOTA IOWA NA
1102 SANBORN AVE
OKOBOJI, IA 51355

This lender issued this particular loan for a small business 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

5731 - Radio, TV, and Consumer Electronics Retailing

Loan Approval Date

8/9/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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