Business Loan from Peoples Savings Bank Given to Beauty Salons Company

An SBA loan from Peoples Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Montezuma, Iowa business owner got a $55,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montezuma, Iowa was able to borrow $55,000 from Peoples Savings Bank. The SBA made the loan possible by guaranteeing $46,750 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MONTEZUMA, IA 50171

SBA Loan Lender

PEOPLES SAVINGS BANK
106 S 2ND
MONTEZUMA, IA 50171

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

812112 - Beauty Salons

Loan Approval Date

1/13/2005

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Montezuma IA, you ought to talk with a local Montezuma SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Montezuma businesses.

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

Startup Funding Tip

SBA Banks in Montezuma, Iowa

SBA Iowa Lenders