Northwood, Iowa Bank Gives SBA Loan to Cafeterias, Grill Buffets, And Buffets Company

Get to know Northwood, Iowa banks that specialize in SBA loans and know how to work with entrepreneurs. Farmers State Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mason City, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Farmers State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS
MASON CITY, IA 50401

SBA Loan Lender

FARMERS STATE BANK
99 N 7TH ST
NORTHWOOD, IA 50459

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

722212 - Cafeterias, Grill Buffets, and Buffets

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$83,500

Loan Approval from the SBA

Of the total $83,500 loan amount, the SBA guaranteed $70,975.

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 13 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $83,500. How would you spend $83,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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