State Bank & Trust Co. SBA Loan to Plastics Products Company

Want an Iowa small business loan? Here's one Iowa business loan that was approved by the SBA.

This growing firm needed an SBA business loan in Nevada, Iowa back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from State Bank & Trust Co., operating out of Nevada, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
NEVADA, IA 50201

SBA Loan Lender

STATE BANK & TRUST CO.
1025 6TH ST
NEVADA, IA 50201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3089 - Plastics Products

Loan Approval Date

6/12/2000

Loan Approval Gross Amount

$375,000

Loan Approval from the SBA

Of the total $375,000 loan amount, the SBA guaranteed $281,250.

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 20 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like State Bank & Trust Co. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

Small Business Banks in Nevada, Iowa

Getting a Business Loan in Iowa