Ottumwa, Iowa Lender Lends Money to Advertising Material Distribution Services Company

Thinking about meeting with an Ottumwa, Iowa bank about a small business loan? Here's one Iowa business loan, issued by an Ottumwa bank, that was approved by the SBA.

Applying for an SBA loan with Hedrick Savings Bank worked out well for our friends at one local company in Ottumwa, Iowa. The business was able to get an SBA loan for $127,000. Great job!

SBA Loan Borrower

COMPANY TYPE: ADVERTISING MATERIAL DISTRIBUTION SERVICES
OTTUMWA, IA 52501

SBA Loan Lender

HEDRICK SAVINGS BANK
216 S MARKET ST
OTTUMWA, IA 52501

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541870 - Advertising Material Distribution Services

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $107,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Credit Evaluation

SBA Banks in Ottumwa, Iowa

Getting an SBA Loan in Iowa