Business Loan from Fidelity Bank & Trust Given to Home Centers Company

Fidelity 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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oelwein, Iowa was able to borrow $440,000 from Fidelity Bank & Trust. The SBA made the loan possible by guaranteeing $330,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME CENTERS
OELWEIN, IA 50662

SBA Loan Lender

FIDELITY BANK & TRUST
1 W CHARLES
OELWEIN, IA 50662

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444110 - Home Centers

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Oelwein IA, you ought to talk with a local Oelwein SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oelwein businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fidelity Bank & Trust 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:

Understanding Dilution

SBA Banks in Oelwein, Iowa

SBA Lenders in Iowa