Marshalltown, Iowa Business Gets SBA-Guaranteed Funding from United Bank & Tr

An SBA loan from United Bank & Tr typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Marshalltown, Iowa business owner got a $150,000 loan.

Getting a small business loan in Marshalltown, Iowa was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from United Bank & Tr, operating out of Marshalltown, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
MARSHALLTOWN, IA 50158

SBA Loan Lender

UNITED BANK & TR
2101 S CENTER ST
MARSHALLTOWN, IA 50158

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

623110 - Nursing Care Facilities

Loan Approval Date

9/22/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 100 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like United Bank & Tr and they will explain how you can get an SBA loan for your company.

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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