Multifamily Housing Construction Business Loans

With these business loans for multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This multifamily housing construction loan for $150,000 was given to an Iowa entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Remsen, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Farmers Savings Bank, based in Remsen, Iowa.

SBA Loan Borrower

COMPANY TYPE: MULTIFAMILY HOUSING CONSTRUCTION
REMSEN, IA 51050

SBA Loan Lender

FARMERS SAVINGS BANK
17 W 2ND
REMSEN, IA 51050

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

233220 - Multifamily Housing Construction

Loan Approval Date

7/6/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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