Northeast Security Bank SBA Loan to Grocery Stores Company

Want an Iowa business loan? Here's one Iowa business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fredericksburg, Iowa was able to borrow $120,000 from Northeast Security Bank. The SBA made the loan possible by guaranteeing $90,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
FREDERICKSBURG, IA 50630

SBA Loan Lender

NORTHEAST SECURITY BANK
134 W MAIN
FREDERICKSBURG, IA 50630

This was a Low Documentation SBA loan. The SBA launched 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

Loan Approval Date

5/17/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

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 6 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Getting a Small Business Loan

Best Fredericksburg, Iowa Banks for Small Business

Iowa SBA 7A Banks