Entrepreneur Works With Hills, Iowa Bank to Get an SBA Loan

A Hills, Iowa SBA loan can be yours. Learn how a business got a $187,800 business loan from this Iowa bank.

This loan to an entrepreneur is a good example of an SBA loan. Hills Bank And Trust Company made the loan and the SBA guaranteed a portion of the loan. Many other Iowa entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
IOWA CITY, IA 52240

SBA Loan Lender

HILLS BANK AND TRUST COMPANY
131 MAIN
HILLS, IA 52235

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

811111 - General Automotive Repair

Loan Approval Date

8/20/2007

Loan Approval Gross Amount

$187,800

Loan Approval from the SBA

Of the total $187,800 loan amount, the SBA guaranteed $93,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $187,800. How would you spend $187,800 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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Where to Get an SBA Loan Iowa