SBA Loan from Lincoln Savings Bank Helps Short Line Railroads Company

An SBA loan from Lincoln Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Greene, Iowa business owner got a $945,300 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greene, Iowa was able to borrow $945,300 from Lincoln Savings Bank. The SBA made the loan possible by guaranteeing $708,975 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SHORT LINE RAILROADS
GREENE, IA 50636

SBA Loan Lender

LINCOLN SAVINGS BANK
111 E TRAER
GREENE, IA 50636

This small business 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

482112 - Short Line Railroads

Loan Approval Date

11/7/2005

Loan Approval Gross Amount

$945,300

Loan Approval from the SBA

Of the total $945,300 loan amount, the SBA guaranteed $708,975.

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 43 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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