Marshalltown, Iowa Bank Gives SBA Loan to Vitreous China, Fine Earthenware, And Pottery Manufacturing Company

Find Marshalltown, Iowa banks that specialize in business loans and know how to work with entrepreneurs. F&m Bank-Iowa is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in North Bergen, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from F&m Bank-Iowa. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: VITREOUS CHINA, FINE EARTHENWARE, AND POTTERY MANUFACTURING
NORTH BERGEN, NJ 07047

SBA Loan Lender

F&M BANK-IOWA
11 N 1ST AVE
MARSHALLTOWN, IA 50158

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

327112 - Vitreous China, Fine Earthenware, and Pottery Manufacturing

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$24,500

Loan Approval from the SBA

Of the total $24,500 loan amount, the SBA guaranteed $12,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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