Firm Gets an Iowa Business Loan

Small business loans in Iowa are hard to find these days. We take a look at one Iowa small business loan, provided by an Iowa bank, that was approved by the SBA.

You can learn something about getting a small business loan in Norwalk, Iowa by studying this loan to a local company, made back in 2000. Banks like City State Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
NORWALK, IA 50211

SBA Loan Lender

CITY STATE BANK
801 MAIN ST
NORWALK, IA 50211

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

7/10/2000

Loan Approval Gross Amount

$66,500

Loan Approval from the SBA

Of the total $66,500 loan amount, the SBA guaranteed $53,200.

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 5 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $66,500 loan. Remember, things become real when you believe you can achieve them!

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:

SBIR Funding

Best Norwalk, Iowa Banks for Small Business

Iowa SBA 7A Lenders