Iowa Business Loan Issued to Automotive Services Company

Searching for an Iowa bank loan? This Iowa entrepreneur got a bank loan, provided by an Iowa bank that works with the SBA to help small business owners.

By giving the right information to Fidelity Information Services, this Marshalltown, Iowa business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
MARSHALLTOWN, IA 50158

SBA Loan Lender

FIDELITY INFORMATION SERVICES
6800 LAKE DR, STE 270
WEST DES MOINES, IA 50266

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.

SIC Code

7549 - Automotive Services

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$143,200

Loan Approval from the SBA

Of the total $143,200 loan amount, the SBA guaranteed $107,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Marshalltown IA, you ought to talk with a local Marshalltown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Marshalltown businesses.

We can help you find the best banks for small businesses in Marshalltown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Small Bank Loans in West Des Moines, Iowa

Iowa SBA Banks