Fairfield, Iowa Business Gets SBA-Guaranteed Funding from Iowa St. Bank & Trust - Fairfiel

Iowa St. Bank & Trust - Fairfiel is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Iowa St. Bank & Trust - Fairfiel, out of Fairfield, Iowa. The loan was granted and they received $50,000 to help grow their Fairfield, Iowa business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
FAIRFIELD, IA 52556

SBA Loan Lender

IOWA ST. BANK & TRUST - FAIRFIEL
55 S 4TH ST
FAIRFIELD, IA 52556

This lender issued this particular debt financing 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

442299 - Home Furnishings Stores

Loan Approval Date

8/12/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Credit Cards

SBA Approved Banks in Fairfield, Iowa

Iowa SBA 7A Banks