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November 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Davenport, Business Loans > Northwest Bank & Trust Company Davenport Business Loans > Landscaping Services Loan | ||||
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SBA Lender Lost Nation Iowa
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Lost Nation, Iowa Entrepreneur Gets an SBA LoanIowaSBA loans are available to Iowa entrepreneurs through the SBA. In this case, an Iowa bank provides the loan. This small business, based in Lost Nation, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Northwest Bank & Trust Company. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender NORTHWEST BANK & TRUST COMPANY This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561730 - Landscaping Services Loan Approval Date 2/18/2004 Loan Approval Gross Amount $112,800 Loan Approval from the SBA Of the total $112,800 loan amount, the SBA guaranteed $95,880. 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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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