Borrowing Money for Women's Clothing Stores

With these loans for women's clothing stores, the SBA guarantees the lender that the loan will be repaid. This women's clothing stores loan for $60,000 was given to an Iowa entrepreneur in 2001.

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 2001. The lending bank was Bank Iowa, based in Humboldt, Iowa.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
FORT DODGE, IA 50548

SBA Loan Lender

BANK IOWA
506 SUMNER AVE
HUMBOLDT, IA 50548

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

2/16/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Fort Dodge or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Bank Credit Lines

SBA 7A Banks for Humboldt, Iowa Loans

Getting a Business Loan in Iowa