Hills Bank And Trust Company SBA Loan to Beer, Wine, And Liquor Stores Company

Hills Bank And Trust Company has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Hills Bank And Trust Company, out of Hills, Iowa. The loan was granted and they received $90,000 to help grow their Iowa City, Iowa business.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
IOWA CITY, IA 52240

SBA Loan Lender

HILLS BANK AND TRUST COMPANY
131 MAIN
HILLS, IA 52235

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

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

1/25/2006

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $45,000.

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. This SBA loan request indicated that the loan would help create 5 new jobs.

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

Remember, you 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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Hills Bank And Trust Company SBA Loan to Beer, Wine, And Liquor Stores Company