Shelby County State Bank Gives Business Loan to Hotels And Motels Company

IowaBank loans are available to Iowa firms through the SBA. In this case, an Iowa bank provides the loan.

Getting a small business loan in Harlan, Iowa was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Shelby County State Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
HARLAN, IA 51537

SBA Loan Lender

SHELBY COUNTY STATE BANK
508 COURT ST
HARLAN, IA 51537

This SBA 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

721110 - Hotels and Motels

Loan Approval Date

8/5/2002

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

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 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Shelby County State Bank and they will explain how you can get an SBA loan for your company.

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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