SBA Loan from Iowa St. Bank & Trust Helps Caterers Company

Iowa St. Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in North Liberty, Iowa was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Iowa St. Bank & Trust, operating out of Iowa City, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
NORTH LIBERTY, IA 95317

SBA Loan Lender

IOWA ST. BANK & TRUST
102 S CLINTON ST
IOWA CITY, IA 52240

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

3/5/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in North Liberty IA, you ought to talk with a local North Liberty SBA lender or talk with an out-of-area SBA lender that has previously loaned money to North Liberty businesses.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Advice on Getting a Small Business Loan

Banks in Iowa City, Iowa

Find an SBA Lender in Iowa