SBA Loan from Northwoods State Bank Helps Bowling Centers Company

Northwoods State Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Northwoods State Bank, out of Mason City, Iowa. The loan was granted and they received $193,000 to help grow their Mason City, Iowa business.

SBA Loan Borrower

COMPANY TYPE: BOWLING CENTERS
MASON CITY, IA 50401

SBA Loan Lender

NORTHWOODS STATE BANK
2650 4TH ST SW
MASON CITY, IA 50401

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7933 - Bowling Centers

NAICS Code

713950 - Bowling Centers

Loan Approval Date

7/28/2000

Loan Approval Gross Amount

$193,000

Loan Approval from the SBA

Of the total $193,000 loan amount, the SBA guaranteed $144,750.

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 3 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 Cash Advances

Banks in Mason City, Iowa

Getting an SBA Loan in Iowa