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November 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Mason City, Business Loans > Northwoods State Bank Mason City Business Loans > Carpet And Upholstery Cleaning Services Loan | ||||
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SBA Lenders in Mason City, Iowa
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Mason City, Iowa Business Gets SBA-Guaranteed Funding from Northwoods State BankNorthwoods State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mason City, Iowa was able to borrow $70,000 from Northwoods State Bank. The SBA made the loan possible by guaranteeing $59,500 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SERVICES SBA Loan Lender NORTHWOODS STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561740 - Carpet and Upholstery Cleaning Services Loan Approval Date 4/30/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Northwoods State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Mason City, Iowa Banks for Small Business
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