Farnhamville, Iowa Lender Lends Money to Construction Machinery Manufacturing Company

Want to talk with a Farnhamville, Iowa bank about a business loan? Here's one Iowa business loan, issued by a Farnhamville bank, that was approved by the SBA.

Applying for an SBA loan with Security Savings Bank worked out well for our friends at one local business in Farnhamville, Iowa. They got an SBA loan for $150,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY MANUFACTURING
FARNHAMVILLE, IA 50538

SBA Loan Lender

SECURITY SAVINGS BANK
320 GARFIELD
FARNHAMVILLE, IA 50538

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

333120 - Construction Machinery Manufacturing

Loan Approval Date

3/12/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 9 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Security Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

How Equity Dilution Works

Small Business Banks in Farnhamville, Iowa

Getting an SBA Loan in Iowa