Business Loan from Horizon Bank Given to Full-Service Restaurants Company

An SBA loan from Horizon Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Oskaloosa, Iowa business owner got a $486,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oskaloosa, Iowa was able to borrow $486,000 from Horizon Bank. The SBA made the loan possible by guaranteeing $364,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OSKALOOSA, IA 52577

SBA Loan Lender

HORIZON BANK
301 FIRST AVE EAST
OSKALOOSA, IA 52577

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/26/2004

Loan Approval Gross Amount

$486,000

Loan Approval from the SBA

Of the total $486,000 loan amount, the SBA guaranteed $364,500.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Raising Venture Capital

SBA Banks in Oskaloosa, Iowa

SBA Participating Banks in Iowa