Entrepreneur Works With Council Bluffs, Iowa Bank to Get an SBA Loan

Get small business loans from a Council Bluffs, Iowa bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Midstates Bank is a Council Bluffs, Iowa small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Iowa company.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
MISSOURI VALLEY, IA 51555

SBA Loan Lender

MIDSTATES BANK
1851 MADISON AVE, STE 732
COUNCIL BLUFFS, IA 51503

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

446110 - Pharmacies and Drug Stores

Loan Approval Date

9/21/2004

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Midstates Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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