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December 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Somers, Business Loans > Heartland Bank Somers Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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SBA Lender Somers
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Somers, Iowa Bank Gives SBA Loan to Gift, Novelty, And Souvenir Stores CompanyThinking about meeting with a Somers, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by a Somers bank, that was approved by the SBA. Applying for an SBA loan with Heartland Bank worked out well for our friends at one local company in Gowrie, Iowa. The business was able to get an SBA loan for $81,600. Nice! SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender HEARTLAND BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 10/26/2006 Loan Approval Gross Amount $81,600 Loan Approval from the SBA Of the total $81,600 loan amount, the SBA guaranteed $69,360. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - Getting Venture Capital SBA 7A Banks for Somers, Iowa Loans
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