Small Business Loans for Transit and Ground Passenger Transportation

Looking for small business loans for transit and ground passenger transportation? The SBA may be the answer. This $62,000 transit and ground passenger transportation loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Humboldt, Iowa was able to borrow $62,000 from Bank Iowa. The SBA made the loan possible by guaranteeing $52,700 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSIT AND GROUND PASSENGER TRANSPORTATION
HUMBOLDT, IA 50548

SBA Loan Lender

BANK IOWA
506 SUMNER AVE
HUMBOLDT, IA 50548

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

485999 - Transit and Ground Passenger Transportation

Loan Approval Date

10/26/2006

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $52,700.

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 4 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 4 new jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Humboldt IA, you ought to talk with a local Humboldt SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Humboldt businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Iowa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Iowa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

504 Loans

SBA Banks in Humboldt, Iowa

Getting a Business Loan in Iowa