Ottumwa, Iowa Bank Lends Money to Recyclable Material Merchant Wholesalers Company in Hedrick, Iowa

Find Ottumwa, Iowa banks that specialize in SBA loans and know how to work with entrepreneurs. Hedrick Savings Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hedrick, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Hedrick Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: RECYCLABLE MATERIAL MERCHANT WHOLESALERS
HEDRICK, IA 52563

SBA Loan Lender

HEDRICK SAVINGS BANK
216 S MARKET ST
OTTUMWA, IA 52501

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423930 - Recyclable Material Merchant Wholesalers

Loan Approval Date

9/14/2006

Loan Approval Gross Amount

$284,300

Loan Approval from the SBA

Of the total $284,300 loan amount, the SBA guaranteed $213,225.

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 application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $284,300 loan. Remember, feel the fear, and do it anyway.

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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