Small Business Loans for Video Tape and Disc Rental

Looking for small business loans for video tape and disc rental? The SBA may be the answer. This $81,900 video tape and disc rental loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mt. Vermon, Iowa was able to borrow $81,900 from Hills Bank And Trust Company. The SBA made the loan possible by guaranteeing $69,615 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
MT. VERMON, IA 52314

SBA Loan Lender

HILLS BANK AND TRUST COMPANY
1401 S GILBERT ST
IOWA CITY, IA 52240

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

532230 - Video Tape and Disc Rental

Loan Approval Date

2/4/2002

Loan Approval Gross Amount

$81,900

Loan Approval from the SBA

Of the total $81,900 loan amount, the SBA guaranteed $69,615.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hills Bank And Trust Company 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:

Obtaining Funding - Friends and Family

Small Business Banks in Iowa City, Iowa

Getting an SBA Loan in Iowa