SBA Loan from Iowa State Savings Bank Helps Office Supplies And Stationery Company

An SBA loan from Iowa State Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Knoxville, Iowa business owner got a $72,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Iowa State Savings Bank, out of Knoxville, Iowa. The loan was granted and they received $72,000 to help grow their Knoxville, Iowa business.

SBA Loan Borrower

COMPANY TYPE: OFFICE SUPPLIES AND STATIONERY
KNOXVILLE, IA 50138

SBA Loan Lender

IOWA STATE SAVINGS BANK
222 E ROBINSON ST
KNOXVILLE, IA 50138

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

12/18/2002

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Iowa State Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Small Business Banks in Knoxville, Iowa

Iowa SBA 7A Lenders