Garnavillo, Iowa Business Gets SBA-Guaranteed Funding from The Garnavillo Savings Bank

The Garnavillo Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Garnavillo, Iowa was able to borrow $240,000 from The Garnavillo Savings Bank. The SBA made the loan possible by guaranteeing $180,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HOGS
GARNAVILLO, IA 52049

SBA Loan Lender

THE GARNAVILLO SAVINGS BANK
101 S MAIN ST
GARNAVILLO, IA 52049

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0213 - Hogs

NAICS Code

112210 - Hog and Pig Farming

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Garnavillo IA, you ought to talk with a local Garnavillo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Garnavillo businesses.

We can help you find the best banks for small businesses in Garnavillo 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:

Advice on Getting a Small Business Loan

Best Garnavillo, Iowa Banks for Small Business

Iowa SBA 7A Lenders