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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Waterloo, Business Loans > Farmers State Bank Waterloo Business Loans > Powder Metallurgy Part Manufacturing Loan | ||||
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Get a Small Business Loan in New Hartford, Iowa
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Local Business Gets an Iowa Bank LoanIowaBusiness loans are available to Iowa business owners through the SBA. In this case, an Iowa bank provides the loan. This business, based in New Hartford, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Farmers State Bank. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: POWDER METALLURGY PART MANUFACTURING SBA Loan Lender FARMERS STATE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332117 - Powder Metallurgy Part Manufacturing Loan Approval Date 10/10/2001 Loan Approval Gross Amount $228,500 Loan Approval from the SBA Of the total $228,500 loan amount, the SBA guaranteed $171,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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 Farmers State Bank 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Waterloo, Iowa
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