Cedar Rapids Bank & Trust SBA Loan to Book Stores Company

Cedar Rapids Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Iowa City, Iowa, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Cedar Rapids Bank & Trust, based in Cedar Rapids, Iowa.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
Iowa City, IA 52240

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451211 - Book Stores

Loan Approval Date

7/19/2007

Loan Approval Gross Amount

$996,000

Loan Approval from the SBA

Of the total $996,000 loan amount, the SBA guaranteed $747,000.

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 generate 5 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cedar Rapids Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

SBA 7A Lenders in Cedar Rapids, Iowa

Getting a Business Loan in Iowa