Federation Bank SBA Loan to Lawn And Garden Equipment Company

Searching for an Iowa small business loan? Here's one Iowa business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Homestead, Iowa, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Federation Bank, based in Wellman, Iowa.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN EQUIPMENT
HOMESTEAD, IA 52236

SBA Loan Lender

FEDERATION BANK
801 6TH ST
WELLMAN, IA 52356

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3524 - Lawn and Garden Equipment

Loan Approval Date

2/7/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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Banks in Wellman, Iowa

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