Iowa Entrepreneur Secures Financing to Buy Fastsigns Franchise

Need money to invest in a Fastsigns franchise? First Iowa State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fastsigns franchise shouldn't be too tough. In 2003, First Iowa State Bank issued an SBA franchise loan to an entrepreneur in Melrose, Iowa. Because Fastsigns was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

FAST SIGNS INC
MELROSE, IA 52569

SBA Loan Lender

FIRST IOWA STATE BANK
19 BENTON AVE EAST
ALBIA, IA 52531

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

541430 - Graphic Design Services

Loan Approval Date

7/1/2003

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 a new business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Melrose IA, you ought to talk with a local Melrose SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Melrose businesses.

We can help you find the best banks for small businesses in Melrose 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:

FASTSIGNS

VC Firms on Twitter

SBA Participating Banks in Albia, Iowa

Browse All Business Loan Sources for Iowa