Business Loan from Family Merchants Bank Given to Computer And Office Machine Repair And Maintenance Company

An SBA loan from Family Merchants Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hiawatha, Iowa business owner got a $190,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hiawatha, Iowa was able to borrow $190,000 from Family Merchants Bank. The SBA made the loan possible by guaranteeing $142,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND OFFICE MACHINE REPAIR AND MAINTENANCE
HIAWATHA, IA 52233

SBA Loan Lender

FAMILY MERCHANTS BANK
600 BOYSON RD
CEDAR RAPIDS, IA 52402

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811212 - Computer and Office Machine Repair and Maintenance

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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