Iowa SBA Loan Issued to Fluid Power Cylinders And Actuators Company

IowaSBA loans are available to Iowa entrepreneurs through the SBA. In this case, an Iowa bank provides the loan.

Getting a small business loan in Hull, Iowa was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Iowa State Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FLUID POWER CYLINDERS AND ACTUATORS
HULL, IA 51239

SBA Loan Lender

IOWA STATE BANK
1101 MAIN
HULL, IA 51239

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.

SIC Code

3593 - Fluid Power Cylinders and Actuators

NAICS Code

333995 - Fluid Power Cylinder and Actuator Manufacturing

Loan Approval Date

4/21/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 10 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

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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