Hiawatha, Iowa Bank Lends Money to Grocery And Related Products Wholesalers Company in Hiawatha, Iowa

Get to know Hiawatha, Iowa banks that specialize in SBA loans and know how to work with entrepreneurs. Hiawatha Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS
HIAWATHA, IA 52233

SBA Loan Lender

HIAWATHA BANK & TRUST
777 N CENTER POINT RD
HIAWATHA, IA 52233

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422490 - Grocery and Related Products Wholesalers

Loan Approval Date

10/8/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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