Iowa Small Business Loan Issued to Iron And Steel Forging Company

Bank loans in Iowa are tough to come by these days. We take a look at one Iowa bank loan, provided by an Iowa bank, that was approved by the SBA.

Getting a small business loan in Pleasantville, Iowa was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Great Western Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL FORGING
PLEASANTVILLE, IA 50225

SBA Loan Lender

GREAT WESTERN BANK
10101 UNIVERSITY AVE.
CLIVE, IA 50325

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332111 - Iron and Steel Forging

Loan Approval Date

4/24/2006

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? 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:

Bank Credit Lines

Best Clive, Iowa Banks for Small Business

Find an SBA Lender in Iowa