Local Business Gets an Iowa Business Loan

Business loans in Iowa are tough to come by these days. We take a look at one Iowa business loan, provided by an Iowa bank, that was approved by the SBA.

Getting a small business loan in Lynnville, Iowa was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First State Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SOYBEAN FARMING
LYNNVILLE, IA 50153

SBA Loan Lender

FIRST STATE BANK
413 EAST ST
LYNNVILLE, IA 50153

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

111110 - Soybean Farming

Loan Approval Date

6/6/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $900,000.

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 9 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

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:

Business Line of Credit

Good Banks for Small Business in Lynnville, Iowa

SBA Participating Banks in Iowa