Bank Loans for Snack and Nonalcoholic Beverage Bars

Looking for bank loans for snack and nonalcoholic beverage bars? An SBA loan may be just what you've been looking for. This $35,000 snack and nonalcoholic beverage bars loan was issued by an Iowa bank.

Getting a small business loan in Oskaloosa, Iowa was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Hedrick Savings Bank, operating out of Ottumwa, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
OSKALOOSA, IA 52577

SBA Loan Lender

HEDRICK SAVINGS BANK
216 S MARKET ST
OTTUMWA, IA 52501

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.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/15/2005

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 3 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Oskaloosa or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Find an SBA Lender in Ottumwa, Iowa

Getting a Business Loan in Iowa