Iowa City, Iowa Business Gets SBA-Guaranteed Funding from Bank Of The West

Bank Of The West has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

Getting a small business loan in Iowa City, Iowa was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Cedar Rapids, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
IOWA CITY, IA 52244

SBA Loan Lender

BANK OF THE WEST
700 FIRST AVE NE
CEDAR RAPIDS, IA 52401

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

6/30/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Iowa City or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Cash Advances

SBA Participating Banks in Cedar Rapids, Iowa

Getting an SBA Loan in Iowa