New Sharon, Iowa Entrepreneur Gets an SBA Loan

Searching for an Iowa bank loan? This Iowa entrepreneur got a bank loan, provided by an Iowa bank that works with the SBA to help small business owners.

Getting a small business loan in New Sharon, Iowa was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Patriot Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
NEW SHARON, IA 50207

SBA Loan Lender

PATRIOT BANK
104 JACKSON
BROOKLYN, IA 52211

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8041 - Offices and Clinics of Chiropractors

NAICS Code

621310 - Chiropractors

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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