SBA Loan from Collins Community Cu Helps Medical, Dental, And Hospital Equipment And Supplies Wholesalers Company

Collins Community Cu 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.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Collins Community Cu, out of Cedar Rapids, Iowa. The loan was granted and they received $15,000 to help grow their Hiawahta, Iowa business.

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES WHOLESALERS
HIAWAHTA, IA 52233

SBA Loan Lender

COLLINS COMMUNITY CU
1150 42ND ST NE
CEDAR RAPIDS, IA 52402

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421450 - Medical, Dental, and Hospital Equipment and Supplies Wholesalers

Loan Approval Date

9/18/2001

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Hiawahta IA, you ought to talk with a local Hiawahta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hiawahta businesses.

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 Collins Community Cu 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.

Related Links:

Business Incubators

SBA Approved Banks in Cedar Rapids, Iowa

Iowa SBA 7A Banks