Entrepreneur Works With Spencer, Iowa Bank to Get an SBA Loan

Get to know Spencer, Iowa banks that specialize in business loans and know how to work with entrepreneurs. Northwest Federal Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Fort Dodge, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Northwest Federal Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL LINE GROCERY MERCHANT WHOLESALERS
FORT DODGE, IA 50501

SBA Loan Lender

NORTHWEST FEDERAL SAVINGS BANK
101 W 5TH ST
SPENCER, IA 51301

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424410 - General Line Grocery Merchant Wholesalers

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

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 51 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Northwest Federal Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Entrepreneur Works With Spencer, Iowa Bank to Get an SBA Loan