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December 20, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Fort Dodge, Business Loans > First American Bank Fort Dodge Business Loans > Drycleaning And Laundry Services Loan | ||||
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Raising Money in Fort Dodge, Iowa With SBA Loans
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Loans for Drycleaning and Laundry ServicesLooking for loans for drycleaning and laundry services? Try the SBA. This $285,000 drycleaning and laundry services loan was issued by an Iowa bank. This small firm knew how to go about getting a business bank loan. Based in Fort Dodge, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First American Bank, based in Fort Dodge, Iowa. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender FIRST AMERICAN BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 4/8/2004 Loan Approval Gross Amount $285,000 Loan Approval from the SBA Of the total $285,000 loan amount, the SBA guaranteed $213,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $285,000. How would you spend $285,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Fort Dodge, Iowa
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