Entrepreneur Works With Rock Rapids, Iowa Bank to Get an SBA Loan

Want to talk with a Rock Rapids, Iowa bank about a small business loan? Here's one Iowa business loan, issued by a Rock Rapids bank, that was approved by the SBA.

Applying for an SBA loan with Frontier Bank worked out well for our friends at one local company in Rock Rapids, Iowa. They received an SBA loan for $150,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE BODY MANUFACTURING
ROCK RAPIDS, IA 51246

SBA Loan Lender

FRONTIER BANK
301 1ST AVE
ROCK RAPIDS, IA 51246

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

336211 - Motor Vehicle Body Manufacturing

Loan Approval Date

8/5/2005

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Frontier Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Frontier 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.

Related Links:

Business Line of Credit

SBA Approved Banks in Rock Rapids, Iowa

SBA Lenders in Iowa