Raising Money for Polystyrene Foam Product Manufacturing

With these business loans for polystyrene foam product manufacturing, the SBA guarantees the lender that the loan will be repaid. This polystyrene foam product manufacturing loan for $100,000 was given to an Iowa entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pierson, Iowa was able to borrow $100,000 from American State Bank. The SBA made the loan possible by guaranteeing $85,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: POLYSTYRENE FOAM PRODUCT MANUFACTURING
PIERSON, IA 51048

SBA Loan Lender

AMERICAN STATE BANK
525 N MAIN AVE
SIOUX CENTER, IA 51250

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326140 - Polystyrene Foam Product Manufacturing

Loan Approval Date

1/22/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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