Iowa City, Iowa Business Gets SBA-Guaranteed Funding from Farmers & Merchants Savings Bk

An SBA loan from Farmers & Merchants Savings Bk typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Iowa City, Iowa business owner got a $25,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Iowa City, Iowa was able to borrow $25,000 from Farmers & Merchants Savings Bk. The SBA made the loan possible by guaranteeing $12,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: ADVERTISING MATERIAL DISTRIBUTION SERVICES
IOWA CITY, IA 52246

SBA Loan Lender

FARMERS & MERCHANTS SAVINGS BK
200 N DEVOE
LONE TREE, IA 52755

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541870 - Advertising Material Distribution Services

Loan Approval Date

6/8/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help generate 1 new job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

SBIR Funding

SBA Participating Banks in Lone Tree, Iowa

SBA Iowa Banks