Keokuk, Iowa Entrepreneur Gets a Business Loan

IowaBank loans are available to Iowa firms through the SBA. In this case, an Iowa bank provides the loan.

Getting a small business loan in Keokuk, Iowa was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
KEOKUK, IA 52632

SBA Loan Lender

FIRST COMMUNITY BANK
320 CONCERT ST
KEOKUK, IA 52632

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

1/5/2006

Loan Approval Gross Amount

$285,500

Loan Approval from the SBA

Of the total $285,500 loan amount, the SBA guaranteed $214,125.

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 5 employees. This SBA loan request did not indicate that the company planned 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've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Borrowing Money from Friends and Family

Best Banks for Small Business in Keokuk, Iowa

Iowa SBA Bank Lenders