Cedar Rapids Bank & Trust SBA Loan to Commercial Printing Company

An SBA loan from Cedar Rapids Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Robins, Iowa business owner got a $368,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Robins, Iowa was able to borrow $368,000 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $276,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PRINTING
ROBINS, IA 52328

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323119 - Commercial Printing

Loan Approval Date

12/8/2003

Loan Approval Gross Amount

$368,000

Loan Approval from the SBA

Of the total $368,000 loan amount, the SBA guaranteed $276,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cedar Rapids Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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SBA 7A Banks in Cedar Rapids, Iowa

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