Williamsburg, Iowa Bank Gives SBA Loan to Eating Places Company

Want to talk with a Williamsburg, Iowa bank about a business loan? Here's one Iowa business loan, issued by a Williamsburg bank, that was approved by the SBA.

Applying for an SBA loan with Farmers Trust & Savings Bank worked out well for our friends at one local firm in Marengo, Iowa. The business was able to get an SBA loan for $102,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MARENGO, IA 52301

SBA Loan Lender

FARMERS TRUST & SAVINGS BANK
510 ELM ST
WILLIAMSBURG, IA 52361

This SBA 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.

SIC Code

5812 - Eating Places

Loan Approval Date

1/20/2000

Loan Approval Gross Amount

$102,500

Loan Approval from the SBA

Of the total $102,500 loan amount, the SBA guaranteed $76,875.

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 10 employees. The loan application did not indicate that the company promised to use the loan proceeds to add 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers Trust & Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers Trust & Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

SBA Participating Banks in Williamsburg, Iowa

SBA Iowa Lenders